Wednesday, January 19, 2022
Martin Hennecke

CKH sells telecom stake in Israel for US$300m
<p>CK Hutchison (0001) is to sell its 27 percent stake in Partner Communications, Israel&#39;s second-largest mobile operator, for US$300 million (HK$2.34 billion).</p><p>The listed flagship of billionaire Li Ka-shing said its subsidiary Advent Investment has agreed to the receiver&#39;s offer of US$300 million for shares in Partner Communications and that the share sale was subject to court and regulatory approval.</p><p>Hutchison gained control of the Partner Communications in November 2019 but was exploring the sale in September last year with the US pressuring Israel to keep Chinese companies at arm&#39;s length from key infrastructure contracts and holdings, according to Israel&#39;s Haaretz newspaper.</p><p>Hutchison&#39;s Israeli representatives have come to understand that given the current geopolitical situation, an approval will not be forthcoming, the report said.</p>
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