WNA Globe

World News by Wild Rose

#telecoms ร—

โ€˜Art of the dealโ€™: UK telecoms exit fits Li familyโ€™s trademark timing for selling at top

CK Hutchison Holdingsโ€™ shares climbed to their highest level since 2020 after the conglomerate announced plans to exit the UK mobile market, signalling that investors believe the Li family may once again have timed an industry peak before the broader market. Shares rose about 12 per cent to HK$73.30 on Monday from the May 5 close, after the company said it would sell its 49 per cent stake in VodafoneThree for US$5.8 billion. CK Hutchison said the disposal was expected to generate a gain of about...