Hong Kong / Beijing, Jan 23 (EFE) .- The Hutchison Whampoa Hong Kong business group announced today that it has launched “exclusive negotiations” with Telefonica to buy its British subsidiary mobile, O2, for a “target price” 9,250 million pounds ($ 12.240 million).
In a communication to the Stock Exchange of Hong Kong, Hutchison Whampoa said that negotiations with the Spanish firm now owns O2, would extend for several weeks and could not result in an agreement.
The shares of Hutchinson were suspended from trading this morning, before the completion of the announcement.
The announcement added that, if the operation closed, Huchison Whampoa could disburse 1,000 million pounds in case the total cash flow of Hutchison 3G UK and O2 UK reach “an agreed threshold.”
Hutchison Whampoa is a conglomerate with Headquartered in Hong Kong and dedicated to sectors such as ports, logistics, energy, telecommunications, hotels, retail and infrastructure.
It is chaired by billionaire Li Ka-shing, considered the richest man in Asia and the number 14 in the world, with an estimated 35,000 million (31,000 million euros), according to the list of billionaires Forbes fortune. EFE
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