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CK Hutchison Holdings Ltd (0001.HK)

0001.HK on Hong Kong Stock

97.80HKD
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

CK Hutchison posts 6 pct rise in FY total net profit
Wednesday, 22 Mar 2017 04:44am EDT 

Ck Hutchison Holdings Ltd <0001.HK> : FY total revenue HK$372.69 billion versus HK$ 396.09 billion year ago . FY total net profit HK$33.01 billion versus HK$31.17 billion a year ago . Final dividend per share HK$1.945 . Economic and political uncertainty continued to weigh on global growth through 2016 . "Cautious approach will be maintained along with rigorous cost discipline" . "Looking ahead to 2017, Husky Energy will continue to maintain a healthy balance sheet to provide financial flexibility" . "Strategically, retail division plans net openings of over 1,000 stores in 2017" . "Growth would have been over 10% in recurring and reported EPS but for continuing declines in euro exchange rates, fall of sterling after Brexit vote " . Cautiously optimistic about group's future prospects . Market volatility, political and regulatory uncertainty and technological changes affecting many of group's businesses will continue in 2017 . Impact of Brexit negotiation, new US presidential policies and upcoming elections across Europe remain unknown .Impact of Brexit negotiation, new US presidential policies, elections across Europe could affect economic environment in countries co operates.  Full Article

CK Hutchison says Indian tax authorities issued draft assessment order to Hutchison Telecommunications International
Friday, 2 Dec 2016 08:02am EST 

CK Hutchison Holdings Ltd<0001.HK>: Indian tax authorities issued a draft assessment order to hutchison telecommunications international limited . Has received a draft assessment order ( "dao") from indian tax authorities ("ita") dated 24 november 2016 . Htil believes that no assessment for alleged cgt can be validly imposed . does not believe that any assessment order or penalty proceedings related to alleged cgt will have any effect on company's financial condition .Dao proposes to impose tax on htil on alleged gains of about inr374 billion in respect of acquisition in 2007 by vodafone of CGP Investments (Holdings).  Full Article

Cheung Kong Property says unit entered into sale and purchase agreement
Friday, 2 Dec 2016 07:40am EST 

Cheung Kong Property Holdings Ltd <1113.HK> : CKP sub and CKHH sub entered into sale and purchase agreement . Pursuant to deal CKHH sub agreed to sell CK Capital sale for a consideration of approximately US$973 million .Pursuant to deal CKHH sub agreed to sell Harrier Global sale share for a cash consideration of US$5 million.  Full Article

CK Hutchison says European Commission approves plan to merge its Italian mobile unit Vimpelcom's<0001.HK>
Thursday, 1 Sep 2016 06:06am EDT 

CK Hutchison Holdings Ltd <0001.HK>: European commission approves the joint venture of 3 Italia S.P.A. and wind acquisition holdings finance S.P.A. <0001.HK> . Says on 1 September 2016, the commission announced its decision to approve the transaction . Says transaction expected to complete in the fourth quarter of 2016 .  Full Article

CK Hutchison says HY net profit HK$14.92 bln<0001.HK>
Thursday, 11 Aug 2016 04:40am EDT 

CK Hutchison Holdings Ltd <0001.HK>: Unaudited results for the six months ended 30 June 2016 <0001.HK> . Says interim dividend per share hk$0.735 . HY total revenue hk$ 180.511 billion versus hk$197.02 billion a year ago . HY net profit hk$14.92 billion up 3% . Retail division plans net openings of over 800 stores in H2 2016, with 65% under health and beauty format in mainland and certain Asian countries . Group's current businesses both in the UK and in Europe are expected to continue to generate stable and reasonable returns" . Cautiously optimistic in the group's future prospects .  Full Article

CK Hutchison updates on O2 UK mobile bid<0001.HK>
Wednesday, 11 May 2016 06:06am EDT 

CK Hutchison Holdings Ltd <0001.HK>: Commission announced its decision to prohibit the transaction under the European union merger regulation . Refers to potential acquisition of O2 UK subscription by co-investors of shares in the combined business of 3 UK and O2 UK . Company is studying the commission's decision . As a result of the commission's decision, and as the conditions precedent to completion of the transaction will not be waived or satisfied . Company studying commission's decision; will consider all options including possibility of an appeal against the decision to European Union General Court . Purchase agreement will terminate on 30 June 2016 .  Full Article

Spain's Telefonica sticks to dividend policy after EU veto of O2 sale
Wednesday, 11 May 2016 06:00am EDT 

Spain's Telefonica :Says it was sticking to its dividend policy and its financial targets after the European veto of the sale of its 02 unit to Hutchison <0001.HK>.  Full Article

CK Hutchison Holdings Ltd - EU antitrust regulators to block Hutchison's O2 deal - sources - Reuters News
Monday, 25 Apr 2016 03:58pm EDT 

CK Hutchison Holdings Ltd:European Union antitrust regulators will veto CK Hutchison Holdings's 10.3-billion-pound ($14.9 billion) bid to become Britain's biggest mobile operator, two people familiar with the matter said on Monday. - RTRS.The European Commission will this week seek the green light from national competition agencies for its decision, the people said.Such a move is usually a formality. Hutchison, controlled by Asia's richest man Li Ka-shing, had faced an uphill battle getting EU clearance for its proposed buy of Telefonica's UK mobile unit O2.A package of concessions designed to boost smaller rivals failed to address Commission concerns that the deal may result in higher prices for consumers and less competition in Britain, the people said.  Full Article

CK Hutchison Holdings Ltd - EU regulators extend Hutchison, Vimpelcom deal probe by a week - Reuters News
Thursday, 21 Apr 2016 09:48am EDT 

CK Hutchison Holdings Ltd:European Union antitrust regulators have extended their investigation into a plan by CK Hutchison Holdings and Vimpelcom to merge their Italian mobile businesses after the companies asked for more time. - RTRS.The European Commission said it would now decide by Aug. 18 instead of Aug. 10 whether to clear the 21.8 billion euro ($24.6 billion) deal, which would create a stronger player to Telecom Italia and Vodafone.The deal faces stringent scrutiny because it would reduce the number of Italian mobile network operators to three from four.Hutchison is already facing an uphill battle to get EU approval for a similar four-to-three acquisition in the UK."The deadline was extended at the parties' request, as allowed for by the Merger Regulation," Commission spokesman Ricardo Cardoso said in an email.  Full Article

CK Hutchison Holdings Ltd - Lengthy EU investigation seen for Hutchison's Italian deal- source - Reuters
Monday, 22 Feb 2016 06:27pm EST 

CK Hutchison Holdings Ltd:CK Hutchison Holdings' plan to combine its Italian subsidiary with a Vimpelcom unit is expected to come under extensive EU scrutiny once a preliminary review ends, a person familiar with the matter said on Monday - RTRS.The companies however plan to offer concessions during this phase to allay the European Commission's concerns, the person said.The Commission, which is now examining the deal in a preliminary review, last week flagged its concerns about possible price hikes because the merger will reduce the number of mobile network operators in Italy from four to three.The EU competition authority's initial assessment is scheduled to end on March 11. A full-scale investigation could take up to five months. Commission spokesman Ricardo Cardoso declined to comment.While the proposed combination of Hutchison's 3 Italia SpA and Vimpelcom's WIND Telecommunicazioni will create a player broadly equal to Telecom Italia TLIT.MI and Vodafone VOD.L, it will also mean one fewer network operator in Italy and thus less competition.European Competition Commissioner Margrethe Vestager has adopted a tougher line regarding consolidation in the sector after previous four-to-three telecoms deals resulted in higher phone bills for consumers but not significantly higher investments by the companies.  Full Article

More From Around the Web

Li Ka-shing's CK Hutchison says 2016 profit up 6 pct, above view

HONG KONG, March 22 CK Hutchison Holdings Ltd , the ports-to-telecoms arm of billionaire businessman Li Ka-shing, said on Wednesday net profit rose 6 percent in 2016, helped by stable earnings from its infrastructure, telecommunications and retail units.