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Aug. 27, 2013, 10:00 AM
- Maybe a blow to the hoped-for bidding war for Li Ka-shing's (HUWHF.PK) Hong Kong supermarket chain, ParknShop, KKR and TPG Capital are no longer in the running to buy the business, reports Reuters.
- KKR's interest in the steady cash flow business has been well-tipped and it was reported the P-E firm was among at least 7 bidders for the company in the auction's first round earlier this month.
Aug. 21, 2013, 3:39 PM
- Hutchison Whampoa ((HUWHY.PK), (HUWHF.PK)) unveils the rebranding of its Austrian unit, which acquired Orange Austria for $1.8B in Jan. The Orange brand will disappear and be folded into Whampoa's 3 Austria name.
- Orange's SIM-only plan (€7.50/month) will continue to be offered under the new brand.
- The merged unit is targeting a market share in Austria of 30%, from 24% now. It is offering a sign-up bonus of €100 to new customers in an effort to get there.
Aug. 16, 2013, 9:25 AM
- KKR is indeed among the bidders for Li Ka-shing's Hong Kong supermarket chain, ParknShop, reports Reuters, which says there were at least 7 bids.
- Offers also reportedly came from Australia's Woolworths, Japan's Aeon, China Resources Enterprises, and TPG Capital (with partner).
- Li's Hutchison Whampoa (HUWHY.PK, HUWHF.PK) has set an asking price of $3B-$4B with first-round bids due today.
- Previous: KKR's rumored interest.
Aug. 7, 2013, 2:35 AM
- Wal-Mart (WMT) is reportedly considering participating in an auction for Hong Kong supermarket chain ParknShop, which is valued at up to $4B by owner Hutchison Whampoa (HUWHF.PK).
- The deadline for initial offers is August 16, with KKR (KKR) among those invited to bid; Blackstone (BX) has held talks with banks about financing.
- Wal-Mart, which has over 380 stores in China, could use ParknShop as a platform to expand in the country. The latter operates 345 outlets in Hong Kong, mainland China and Macau, and generated revenue of HK$21.7B ($2.8B) last year.
Jul. 5, 2013, 3:14 AMAs expected, Telecom Italia (TI) has ended talks with Hutchison Whampoa (HUWHF.PK) about merging their Italian mobile phone units, as the "elements necessary to start (formal) negotiations" weren't in place. TI will now focus on its plan to spin off its fixed-line operations, while Hutchison may look to merge its subsidiary, 3 Italia, with Vimpelcom (VIP) unit Wind. | Comment!
Apr. 9, 2013, 5:24 AMTelecom Italia (TI) shares +3.6% to €0.595 in Milan following a report that Hong Kong's Hutchison Whampoa (HUWHF.PK) could acquire a 29.9% holding in TI for €1.2 a share. In return, TI would be able to buy Hutchison mobile unit 3 Italia. The deal would make Hutchison the largest shareholder in TI, as its stake would exceed the 22.4% held by the Telco consortium, which includes Telefonica (TEF). | 1 Comment
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