CK Hutchison's (0001) telecom business recorded a 15 percent rise in revenue to €2.9 billion in the first quarter.
The total margin of CK Hutchison Group Telecom also grew by 11 percent to €2 billion in the three months.
Revenue for the UK telecom business jumped by 55 percent year-on-year to €980 million, but dropped by 5 percent from the fourth quarter on pressure in the business segment.
The UK segment’s margin soared by 48 percent to €646 million from a year ago.
Sales for its Italy segment dipped by 3 percent to €902 million.
It agreed to sell a 49 percent interest in VodafoneThree, which operates the UK telecom business, for £4.3 billion. The transaction is expected to be completed in the second half, subject to certain conditions.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓
