3g-g
14th June 2005, 01:10 AM
As the title says! Never one to be worried about losing money on your 3G adventures, Mr HTL, or Li Ka-shing (which sounds a bit like Chi-ching! cash register noise) to you and me, has decided to flog off some of his port operations interests, netting a cool $925,000,000 in cash. That's a lot of brief cases. Also, further down the article, he's expected to book a $1.2bn profit by eliminating it's liability that it had to KPN and DoCoMo for it's UK 3G operation. Can this man do no wrong?!
Read the port article here. (http://abcnews.go.com/Business/wireStory?id=842814)
Here's another little cutting about the deal...
CONGLOMERATE Hutchison Whampoa has agreed to sell a stake in a Hong Kong container terminal to help funds its 3G telecommunications networks. The company has sold the stake to Singapore's government-backed port operator for $US925 million ($1.21 billion). Hutchison is looking to raise money to offset spending on the commercially unproven mobile technology, which is rumoured to be pushing toward $US25 billion. Hutchison agreed to sell 20 per cent in Hongkong International Terminals (HIT) and 10 per cent effective equity in COSCO-HIT to PortCapital, which is backed by Singapore's PSA International...
Read the port article here. (http://abcnews.go.com/Business/wireStory?id=842814)
Here's another little cutting about the deal...
CONGLOMERATE Hutchison Whampoa has agreed to sell a stake in a Hong Kong container terminal to help funds its 3G telecommunications networks. The company has sold the stake to Singapore's government-backed port operator for $US925 million ($1.21 billion). Hutchison is looking to raise money to offset spending on the commercially unproven mobile technology, which is rumoured to be pushing toward $US25 billion. Hutchison agreed to sell 20 per cent in Hongkong International Terminals (HIT) and 10 per cent effective equity in COSCO-HIT to PortCapital, which is backed by Singapore's PSA International...