HONG KONG (Reuters) – The board of Hong Kong conglomerate CK Hutchison said on Monday it has not made any decision on its global telecommunications business, in response to media reports about a potential spin-off listing of the assets. “From time to time, the Group receives proposals and explores and evaluates opportunities that may be […]
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Hong Kong’s CK Hutchison says no decision made on telco spin off
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HONG KONG (Reuters) – The board of Hong Kong conglomerate CK Hutchison said on Monday it has not made any decision on its global telecommunications business, in response to media reports about a potential spin-off listing of the assets.
“From time to time, the Group receives proposals and explores and evaluates opportunities that may be available, with a view to enhancing long term value to shareholders, including possible transactions relating to the assets and operations of the company’s global telecommunication businesses,” the board said in a stock exchange filing.
A spin-off listing would be among those options, according to the filing.
The board said no decision has been made about any transaction and there is no certainty a transaction will take place.
Reuters reported on Friday, citing sources, the company is mulling a spin-off of global telecom assets and would list the business on the London stock exchange.
(Reporting by Kane Wu; Editing by Chris Reese)