Hong Kong conglomerate CK Hutchison Holdings is considering listing its global telecommunications business in London and Hong Kong as soon as the third quarter, following a planned spin-off from the group, according to sources familiar with the matter.
Preparations for the spin-off began early last year after CK Hutchison secured regulatory approval for a US$19 billion (RM77 billion) deal to merge its UK assets with Vodafone. The company is reportedly looking at London for the primary listing and Hong Kong as a secondary venue, valuing its European, Hong Kong, and Southeast Asian telecoms operations at around US$20 billion.
If listed, the telco unit could quickly join London’s FTSE100 index. However, a potential merger of its Italian unit Wind Tre with France’s Iliad could delay the spin-off, insiders said.
CK Hutchison is working with Goldman Sachs, Citigroup, and Deutsche Bank on the listing, though plans remain fluid and timing may change. The company declined to comment.
The move follows CK Hutchison’s recent focus on improving returns, including the planned sale of most of its global ports business, valued at US$22.8 billion, to a BlackRock-led consortium—a process slowed by regulatory approvals and China’s push to include a domestic investor.
