Hutchison joins Vietnamese firm for 655 million dollar investment
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Hutchison Telecom has signed a deal with a Hanoi-based firm to launch a third generation (3G) mobile phone network with total investment of 655 million dollars over 15 years.
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HSBC has agreed to buy a 10 percent stake of a leading Vietnamese insurance company, as the global banking giant continues its Asian expansion strategy.
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Taiwan's Hon Hai Precision Industry Co.--which assembles iPods, PS3s, and more--is spending $5 billion to build factories near Hanoi.
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Challenger Financial Services Group, an Australian fund manager, said Monday that it bought a 5.8 percent stake in a British natural gas distribution network for 85 million Australian dollars, or $65 million, to diversify its portfolio of investments.
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In a story Oct. 21 on Chinese investments overseas, The Associated Press incorrectly reported that Global Crossing was sold to a joint venture owned by Hutchison and Singapore Technologies Telemedia. Hutchison withdrew from the deal and ST Telemedia proceeded alone in purchasing Global Crossing.
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Telecom giant Vodafone has said it will invest more than two billion dollars in a drive to make its new Indian purchase, Hutchison Essar, the country's biggest mobile phone company.
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HANOI, Vietnam -- Vietnam's legislature ratified the country's entry into the World Trade Organization on Tuesday, paving the way for the communist nation to become the global trade body's 150th member.
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Telecommunication equipment maker Telefon AB LM Ericsson said Monday it received a $805 million (euro609.3 million) contract from Guangdong Mobile Communication Corp.
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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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The five-year, $55 million deal is designed to help the convenience retailer improve customer service while boosting efficiency and productivity.
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The deal, for $17.50 per share, continues a recent trend of networking and telecommunications firms being bought by private equity firms.
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Vietnam approves plans to build a $33bn (Â£15bn) rail link between the capital, Hanoi, to Ho Chi Minh City in the south.
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LAS VEGAS -- Harrah's Entertainment Inc., the world's largest casino operator, said Monday it has received a $15.05 billion offer for the company from private-equity firms Apollo Management and Texas Pacific Group.
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Billionaire Li Ka-shing&#39;s Hutchison Whampoa Ltd. received approval from US regulators to file for an initial public offer to raise as much as $2 billion in its phone business in Hong Kong, India and six other markets.
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(InfoWorld) - 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. Vodafone announced late Sunday that it has agreed to acquire companies that control a 67 percent stake in Hutchison Essar from Hutchison Telecommunications International, a subsidiary of Hong Kong's Hutchison Whampoa. Hutchison Telecommunications holds a majority stake in Hutchison Essar both directly and through a joint venture company in which Indian partners hold shares. Vodafone will pay $11.1 billion in cash for the acquisition, along with assuming $2 billion in debt, through its subsidiary Vodafone International Holdings. The transaction is expected to close in the second quarter of this year, and is conditional to Indian regulatory approval, it said. Hutchison's decision came over the weekend, after it evaluated bids from four key contenders including Indian mobile services provider Reliance Communications, the Hinduja Group of the U.K., and Indiaâs Essar Group, which holds 33 percent in Hutchison Essar, according to informed sources. Vodafone will offer to acquire the Essar Groupâs stake at the same price per share it is offering Hutchison, the company said. Indian regulations however do not allow foreign operators to hold more than 74 percent of the equity in an Indian telecommunications service provider. If the Essar Group sells its stake, Hutchisonâs local partners, which together have a 15 percent interest in Hutchison Essar, will increase their interest to 26 percent, Vodafone said. The Essar Group said in its statement late Sunday that it was evaluating an offer from Vodafone to be a partner. The Essar Group has the option to continue as an equity holder in Hutchison Essar or sell its stake along with Hutchison Telecommunications. Vodafone has been seeking Hutchisonâs stake since December last year, and in January the companyâs CEO,Â Arun Sarin visited India to press its caseÂ with the Indian government and business partners here. India is adding over 6 million new mobile subscribers every month. Hutchison Essar had 23.3 million customers as of December 31, 2006, which gave it a 16.4 percent market share. Vodafone also offered Sunday to sell its stake of 5.6 percent in Bharti Airtel, also a large Indian mobile services operator, to another company of the Bharti Group for $1.6 billion, double the price for which itÂ acquired the stake in 2005. It also announced a memorandum of understanding with Bharti Airtel for infrastructure sharing with Hutchison Essar.
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Flag Telecom awards $1.5 billion contract to build its next-generation network submarine cable.
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(InfoWorld) - The world's largest contract electronics manufacturer, which assembles gadgets from Apple Inc. iPods to Sony Corp. PlayStation 3 consoles and Nokia Corp. handsets, became the latest company to announce a high tech investment in Vietnam, with plans to spend a massive $5 billion over the next five years. The investment by Taiwan's Hon Hai Precision Industry Co. Ltd. will be aimed initially at building a base of electronic components factories near Vietnam's capital, Hanoi, a Hon Hai spokesman said Thursday. The huge investment shows that Vietnam has continued to increase its allure as a haven for IT investments. Last year Intel Corp. announced it would expandÂ a chip packaging and testing project in Vietnam into a US$1 billion affair, more than triple the size of the original plan. The factory is slated to begin operations in 2009, near Ho Chi Minh City. Earlier this month, Taiwan's Compal Electronics Inc., the world's second largest laptop PC maker, revealed a plan to invest US$30 million in a factory in Vietnam. The company plans to make notebook PCs at the factory, which will be located near Hanoi. Â