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Hutchison Whampoa sells third of 3-O2 UK to investors
2015-05-08 10:40:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa, parent of mobile operator 3, announced that it has entered into agreements with five institutional investors who will acquire stakes totalling 33 percent in the combined businesses of 3 UK and O2 UK for a total consideration of GBP 3.1 billion. The investors are Canada Pension Plan Investment Board, GIC of Singapore, Limpart Holdings (a subsidiary of the Abu Dhabi Investment Authority), CDPQ of Quebec and BTG Pactual of Brazil. Their investments are conditional on and will occur concurrently with completion by 3 of the acquisition of O2 UK from Telefonica, which is in turn subject to European Commission approval. The full proceeds of their investments will be used, together with a committed bank facility of GBP 6 billion, to fund the acquisition of O2 UK.
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Category:Telecommunications