HTILHutchison Telecommunications International Limited
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HTIL and Charoen Phokphand spent US$1.4 billion to develop GSM 3 (Three) service in Indonesia.
HTIL and Charoen Phokphand spent US$1.4 billion on development of GSM 3 (Three) service in Indonesia.
The proposal will provide that each share of HTIL held by HTIL shareholders, other than those which are wholly owned by HWL, on a record date to be announced will be cancelled in exchange for HKD2.20 in cash.
HTIL is a leading provider in Hong Kong and Israel operating three different brands of telecommunications namely Hutch, Kasapa and "3" in nine markets in Africa and Asia including Indonesia, having more than 36.5 million subscribers of 2G and 3G all over the world.
As a result HTIL has requested that the New York Stock Exchange halt trading of its American Depositary Shares pending the release of the announcement.
According to Vodafone, it has agreed to acquire companies which control a 67% interest in Hutch Essar, from Hutchison Telecom International Limited (HTIL), for a cash consideration of USD11.1bn and will assume net debt of around USD2bn.
The transaction was structured as a special stock dividend issued to HTILs existing shareholders.