Press Releases
HTCL and H3GHK from DOCOMO for US$60 million
Hong Kong, 29 March 2019 - Hutchison Telecommunications Hong Kong Holdings Limited (the Group or HTHKH; stock code: 215) today announced that it has signed a sale and purchase agreement with NTT DOCOMO, INC. (DOCOMO) to acquire DOCOMO's share of HTHKH's mobile businesses for US$60 million (HK$471 million).
HTHKH's wholly owned subsidiary Pilot Gateway will acquire DOCOMO's entire 24.1% interest in each of Hutchison Telephone Company Limited (HTCL) and Hutchison 3G Hong Kong Holdings Limited (H3GHK), which hold the Group's mobile telecoms business. It was agreed that the transaction will close on 31 May 2019.
HTHKH will pay the consideration with the cash proceeds from the disposal of its fixed-line business in October 2017. The transaction will add to the value of HTHKH's shares. Upon completion of the transaction, HTCL and H3GHK will become wholly owned subsidiaries of HTHKH, allowing the Group to gain full control of its mobile telecoms operating arm and to enhance efficiency of operations through elimination of resources expended on shareholders' communications.
HTHKH and DOCOMO have a long and mutually beneficial relationship. To this end, both parties agreed to enter into a consultation and cooperation agreement upon the closing of the transaction, to discuss and explore the feasibilities and possibilities of joint and mutual collaboration between and among the Group and the DOCOMO Group within the field of mobile telecoms products and services to continue the close and good working relationship.
About Hutchison Telecommunications Hong Kong Holdings Limited
Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH, or the Group; stock code: 215) is a leading telecommunications operator providing advanced mobile communications in Hong Kong and Macau under the "3" brand. HTHKH is a member of the CK Hutchison Holdings group (stock code: 1) and channels the latest technologies into innovations that set market trends and steer industry development.
For more information on HTHKH, please visit www.hthkh.com.
For 3 Hong Kong mobile services, please visit www.three.com.hk.
For 3 Macau mobile services, please visit www.three.com.mo.
