 |  |
News Release
(December 23, 2004, Hong Kong and Italy) On Thursday, December 23, 2004, Hutchison 3G Italy Investments S.à r.l. ("Hutchison"), a subsidiary of Hutchison Whampoa Limited ("HWL"), entered into an agreement to purchase from CIRtel International S.A. ("Cirtel"):
1. Cirtel's entire shareholding in Hutchison 3G Italia S.p.A. ("Hutchison 3G Italia");
2. All of Cirtel's rights to receive repayment of loans made by Cirtel to Hutchison 3G Italia,
for a total purchase price of €469,555,274.
The purchase is to conclude today, December 23, 2004.
Hutchison will capitalise the principal amount of the loans and accrued interest at the earliest opportunity.
HWL Group Managing Director Canning Fok commented, "We are pleased to take this opportunity to increase our interest in Hutchison 3G Italia, which under our 3 brand reached a customer base of two million customers at 25 November and has exceeded 2.6 million today."
About Hutchison Whampoa Limited
Hutchison Whampoa Limited (HWL) is a leading international corporation committed to innovation and technology with businesses spanning the globe. Its diverse array of holdings range from some of the world's biggest retailers to property development and infrastructure to the most technologically-advanced and marketing-savvy telecommunications operators. HWL reports consolidated turnover of approximately HK$145 billion (US$18,660 million) and HK$81 billion (US$10,420 million) for the year ended 31 December 2003 and for the six months ended 30 June 2004 respectively. With operations in 42 countries and more than 170,000 employees worldwide, Hutchison has five core businesses - ports and related services, telecommunications, property and hotels, retail and manufacturing, and energy and infrastructure.
Its flagship companies include Hutchison Port Holdings, Hutchison Telecom, Hutchison Whampoa Properties, A.S. Watson, and Cheung Kong Infrastructure.
For more information, please visit www.hutchison-whampoa.com
About H3G Italy S.p.A.
3 - Is the commercial brand of H3G Italy, the mobile video company in the Italian market. After having won the UMTS license in Italy in November 2000, with the offer of 3.25 billion euros, H3G Italy launched its service at the beginning of March 2003 and aimed for the leadership of third generation mobile market. Among its shareholders are prominent leaders in Italy and the world, from the sectors of telecommunications, Internet and new media, publishing and finance. Hutchison Whampoa Limited is the primary shareholder, holding 89.32% of the authorized capital. The other shareholders include S. Paolo Imi, BMI, RCS Mediagroup, Gemina and Tiscali.
For media enquiries, please contact:
Hutchison Whampoa Ltd
Nora Yong
Tel: (852) 2128 1363
Pager: (852) 6330 4227
Hutchison 3G Italia
Gian Marco Litrico
Tel: (39) 02 4458 2129
| © Copyright 1996-2024 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |