Vodafone Buys Out CK Hutchison Stake for $5.8 Billion
CK Hutchison Holdings has agreed to sell its stake in Vodafone Group’s UK joint venture in a buyout deal worth $5.8 billion, paving the way for Vodafone to take full ownership of the operator. The business has been described as the UK’s largest telecommunications operator and one of the country’s largest mobile operators.
Separately, CK Hutchison said its appointed directors will resign from the VodafoneThree board ahead of completion of the transaction.
From the sources (3 posts)
@firstsquawkCK Hutchison Holdings announced that its appointed directors will resign from the VodafoneThree board ahead of completion.
@businessCK Hutchison Holdings has agreed to sell its stake in the UK’s largest telecommunications operator in a buy-out deal worth $5.8 billion
@wsjVodafone Group will take full ownership of its joint venture with CK Hutchison after the Hong Kong conglomerate agreed to sell its stake in one of the U.K.’s largest mobile operators for more than US$5 billion.