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Sunday, March 14, 2010
Hutchison Telecom May Delist In Hong Kong May 25, In New York June 4
By Kate O'Keeffe
Dow Jones Newswires
HONG KONG -(Dow Jones)- Hutchison Telecommunications Ltd. (2332.HK) plans to delist from the Hong Kong Stock Exchange on May 25 and from the New York Stock Exchange on June 4, if parent company Hutchison Whampoa Ltd. (0013.HK) gains approval from a local court and shareholders to take the telecom services provider private for US$545 million, the two companies said Sunday.
Hutchison Whampoa and Hutchison Telecom said in a statement they will hold an extraordinary general meeting on the plan May 12, after a court meeting.
Hutchison Whampoa, a conglomerate controlled by billionaire Li Ka-shing, said in January it had offered to take 60.4%-owned unit Hutchison Telecom private for HK$2.20 a share, to gain more control over how to restructure unprofitable telecom assets.
Copyright © 2009 Dow Jones Newswires
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