UPDATE 2-Hutchison telecom unit markets US$1 bln IPO
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Hutchison Telecommunications International Ltd. (HTIL), part of Hong Kong&#39;s Hutchison Whampoa Ltd., on Monday began marketing a scaled-down IPO worth up to HK$8.
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PARIS, October 20 /PRNewswire-FirstCall/ -- SBC Communications announced today that it has selected Alcatel (PARIS: CGEP.PA and NYSE: ALA) as its primary network infrastructure and services supplier in a deal that is estimated to be worth USD 1.7 billion
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Hutchison Telecommunications International Ltd., controlled by Hong Kong billionaire Li Ka- shing, fell on its share-trading debut today on concern it won&#39;t pay a dividend because expansion costs will reduce profits.
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China Netcom Group Corp. (Hong Kong) Ltd., China&#39;s second-biggest fixed-line phone company, raised $1.14 billion in an initial public offering to expand and upgrade its telecommunications systems and pay bank loans.
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Hutchison Telecommunications International Ltd., controlled by Hong Kong billionaire Li Ka- shing, cut its initial public offer by as much as a fifth after investors snubbed the sale because the price was too high.
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Britain's Vodafone Group PLC has agreed to buy a 67 percent controlling interest in Hutchison Essar Ltd., one of India's leading cell phone companies, for $11.1 billion, Vodafone said in a statement Sunday.
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(InfoWorld) - An Indian NGO (non-government organization) called Telecom Watchdog has filed a petition with the High Court of Delhi, alleging that foreign shareholding in mobile services operator Hutchison Essar is in breach of the Indian government's regulations on foreign direct investment (FDI). Hutchison Telecommunications International Ltd. (HTIL) announced in February that it hadÂ entered into an agreementÂ with a subsidiary of Vodafone GroupÂ to sell its 67 percent direct and indirect equity and loan interests in Hutchison Essar for a total cash consideration of $11.1 billion. India's Essar Group, HTIL's joint venture partner in Hutchison Essar, holds 33 percent of the equity in the joint venture, with some 22 percent of this held by an Essar group company registered abroad. Indian government regulations allow a maximum of 74 percent foreign holding in an Indian telecom services company. If one were to add HTIL's 67 percent interest in Hutchison Essar with the 22 percent held by an Essar entity abroad, it would appear that the total foreign equity is in excess of the 74 percent limit, but there are other Indian shareholders besides Essar also involved, said an informed source. Telecom Watchdog was not immediately available for comment. HTIL spokeswoman Mickey Shiu said Thursday that Hutchison Essar was fully compliant with Indian rules on foreign direct investment. Shiu confirmed that there were other Indian shareholders besides Essar, but declined to give a breakdown of its 67 percent interest in Hutchison Essar. The petition by Telecom Watchdog alleges that as a result of HTIL's arrangements with Indian shareholders of Hutchison Essar, the foreign shareholding in Hutchison Essar is in breach of the foreign direct investment (FDI) regulations in India. It alleges that HTIL provided loans to its Indian partners to help them acquire equity in Hutchison Essar. HTIL shareholders vote Friday on the proposed sale of HTIL's interest in Hutchison Essar to Vodafone. The Indian government's Foreign Investment Promotion Board (FIPB) is meanwhile looking into all aspects of the transaction between HTIL and Vodafone. The scrutiny by the FIPB follows Vodafone's request for government approval for the proposed sale of HTIL's interest in Hutchison Essar to a Vodafone subsidiary, and is not an investigation into any irregularities in foreign holding in the company, Shiu said. The FIPB had approved HTIL's reorganization of its holding and the shareholding pattern in Hutchison Essar last year as way back as July last year, she added. Negotiations are still going onÂ between the Essar Group and Vodafone on a shareholder agreement. The Essar Group wants joint control of strategic decisions at Hutchison Essar.
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â¢ 2004-09-20 â¢ Hutchison Whampoa Ltd has said that it would raise between $975.6 million and $1.13 billion from its initial public offering (IPO) ahead of an US and Hong Kong listing in mid-October.
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Vodafone buys a controlling stake in Indian mobile phone firm Hutchison Essar for $11bn (Â£5.6bn).
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InfoWorld - India&#39;s Essar Group will remain as a key shareholder in Indian mobile services provider Hutchison Essar, but will likely negotiate stronger minority shareholder rights with Vodafone Group, which Sunday announced it was&#160;acquiring a controlling 67 percent stake&#160;in the company.
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British mobile services operator Vodafone Group will acquire a majority stake in Hutchison Essar, winning aÂ heated bid for controlÂ of the Indian mobile services operator.
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Hutchison Telecommunications International Limited (HTIL), a telecom arm of Li Ka-shing-controlled Hutchison Whampoa seeking a listing in Hong Kong and New York, said it has no plan to pay dividends as it has racked up HK$5.
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SAN ANTONIO --(Business Wire)-- Oct. 20, 2004 -- SBC Communications Inc. (NYSE: SBC) today announced a five-year, approximately $1.
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Hutchison Telecommunications International (HTIL) hopes to raise as much as HK$8.81 billion from a dual listing in Hong Kong and New York, parent Hutchison Whampoa said.
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BARCELONA/HONG KONG  - Vodafone  shares climbed on Monday after the British mobile phone giant beat rival suitors with an $11.1 billion bid for a controlling stake in Hutchison Essar, India's fourth-biggest cellphone firm.
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Telekom Malaysia Bhd has won the bid for a 27.3% stake in Indonesiaâs third largest mobile operator, PT Excelcomindo Pratama (Excel), for RM1.2bil cash, beating offers from regional rivals such as South Koreaâs SK Telecom.
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China Netcom, the smallest of Chinaâs four big telecoms carriers, raised US$1.13 billion from a Hong Kong and New York IPO priced just above the mid-point of its indicated range, sponsor Goldman Sachs said on Wednesday.