CK Hutchison says no decision made on telco spin off

The board of Hong Kong conglomerate CK Hutchison (0001) said on Monday it has not made any decision on its global telecommunications business, in response to media reports about a potential spin-off listing of the assets.

"From time to time, the Group receives proposals and explores and evaluates opportunities that may be available, with a view to enhancing long term value to shareholders, including possible transactions relating to the assets and operations of the company's global telecommunication businesses," the board said in a stock exchange filing.

A spin-off listing would be among those options, according to the filing.

The board said no decision has been made about any transaction and there is no certainty a transaction will take place.

Reuters reported on Friday, citing sources, the company is mulling a spin-off of global telecom assets and would list the business on the London stock exchange.

REUTERS