Key Developments: CK Hutchison Holdings Ltd (0001.HK)

0001.HK on Hong Kong Stock

26 Nov 2015
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Latest Key Developments (Source: Significant Developments)

CK Hutchison Holdings Ltd - EU regulators open full probe into Hutchison's $15.8 bln UK deal - Reuters
Friday, 30 Oct 2015 06:18am EDT 

CK Hutchison Holdings Ltd:EU antitrust regulators have launched a full investigation into Hutchison Whampoa's 10.3-billion-pound ($15.8 billion) bid for British mobile operator O2, concerned that the deal may push up prices - RTRS.The European Commission has signalled a tougher line on telecoms mergers, putting it on a collision course with the companies who argue they need to consolidate to invest in faster networks - RTRS.Hutchison's planned acquisition of Telefonica's would make it the top mobile operator in Britain - RTRS.It already has a UK mobile business, Three, so the deal would reduce the number of network operators from four to three, a number which typically raises regulatory alarm bells - RTRS."The Commission has concerns that the transaction would remove an important competitive force and that the merged entity would have limited incentives to exercise significant competitive pressure on the remaining competitors," the Commission said on Friday - RTRS.The stakes are high for Hutchison, owned by Li Ka-shing. Failure to get EU approval for the deal could put a brake on its expansion and long-term prospects in Europe, credit rating agency Moody's wrote in a note last month - RTRS.  Full Article

CK Hutchison Holdings Ltd - UK regulator wants EU to hand over Hutchison, O2 case - Reuters
Thursday, 1 Oct 2015 08:00pm EDT 

CK Hutchison Holdings Ltd:Britain's competition authority has asked EU antitrust regulators to let it examine Hutchison Whampoa's 0001.HK 10.25-billion-pound ($15.6 billion) bid for Telefonica's British mobile unit O2 because the deal would impact the UK most - Reuters.The European Commission has been reviewing the deal, which will reduce the number of mobile operators from four to three, since Sept. 11. That threshold has triggered regulatory alarm bells in past mergers in Denmark, Germany, Austria and Ireland - Reuters.The Competition and Markets Authority (CMA) said it was better placed than the EU enforcer to scrutinise Hutchison's bid to create the biggest mobile operator in Britain by merging its Three UK unit with O2 - Reuters."It is appropriate for the case to be referred to the CMA for investigation because any impact on competition resulting from the merger will likely be limited to UK consumers," the UK agency said on its website - Reuters.Commission spokesman Ricardo Cardoso confirmed the CMA's request, saying the Commission will assess it. It has until Oct. 30 to do so. The EU regulator has rejected similar requests from national agencies in previous telecoms deals - Reuters.Hutchison is ready to sell network capacity and frequencies to fend off antitrust concerns, sources told Reuters last month - Reuters.  Full Article

CK Hutchison Holdings Ltd and VimpelCom have agreed to form equal jv
Thursday, 6 Aug 2015 07:59am EDT 

CK Hutchison Holdings Ltd:Says HET and H3GII and the ompany entered into contribution and framework agreement with VimpelCom and vipa.Ck hutchison-co and VimpelCom have agreed to form equal jv.Joint venture to jointly own and operate the Mobile telecommunications businesses in Italy of 3 italia.Says parties will form the joint business comprising the businesses of the 3 italia group and the wind group.Says formation of the joint venture is conditional upon the satisfaction of certain conditions.The joint venture will create a Mobile operator in Italy with over 31 million subscribers.Says het, h3gii, the company, VimpelCom and vipl entered into a shareholders' deed.Ck hutchison-co has agreed to guarantee the payment and other obligations of het under the contribution and framework agreement.Says "joint venture will have over 31 million customers".VimpelCom has agreed to guarantee payment and other obligations of vipa under contribution and framework agreement.Combination expected to generate significant synergies with net present value, less integration costs, of over euro 5 billion".Formation of the joint venture is expected to result in a profit of approximately hk$1 billion.Het and vipl will jointly incorporate a new finance company which will have an initial capital of EUR 2.At completion, HET will assign rights in 50 percent of principal amount of existing loan, in amount of about euro 2.55 billion, to VIPL.  Full Article

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