CK Hutchison (0001) said on Tuesday that its subsidiary, CK Hutchison Group Telecom, will sell all its 49 percent stake in UK mobile operator VodafoneThree for 4.3 billion pounds (HK$45.5 billion).
As of 3 pm, CK Hutchison's shares rose more than 3 percent, hitting a three-year high.
Currently, Vodafone Group owns 51 percent of Vodafone Three's shares, while CK Hutchison Group Telecom has 49 percent. The transaction is subject to regulatory approvals, the conglomerate said.
"This transaction is a win-win for the Group and for our partners. It generates substantial cash proceeds to the group and crystallises solid value for the group from our investment,” said Frank Sixt and Dominic Lai Kai-ming, co-managing directors of CK Hutchison.
Canning Fok Kin-ning, deputy chairman of CK Hutchison and executive chairman of CK Hutchison Group Telecom, noted that the deal allows the company to realise the value of its investment in VodafoneThree for the benefit of the group and shareholders.
VodafoneThree, formed from the merger in early 2023 through a deal between Vodafone UK and Three UK – with CK being the parent company of the latter. The three had completed the VodafoneThree merger in May 2025.
The deal follows ongoing regulatory and legal scrutiny facing Britain’s mobile operators, even after consolidation in the sector, with providers including Vodafone, BT’s EE, Telefonica’s O2 and Three UK accused of overcharging customers through so-called “loyalty penalties”.
CK Hutchison continues to operate telecom businesses in Italy, Sweden, Denmark, Austria and Ireland, according to its website.
It also holds a controlling stake in Hutchison Telecommunications Hong Kong Holdings, which provides mobile services in Hong Kong and Macau.
Staff reporter and Reuters
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