Hutchison Whampoa Ltd. ADR (HUWHY) - OTCPK - Current
  • Fri, Jul. 8, 1:57 PM
    • European regulators are set to clear a long-in-the-works mobile merger in Italy, Reuters reports.
    • The European Commission -- lately prone to blocking telecom consolidation on the continent -- is ready to sign off on a €21.8B combination of Three Italia, owned by Hutchison (OTCPK:HUWHY), with Wind Telecomunicazioni, owned by VimpelCom (VIP +1.7%).
    • Hutchison saw a similar deal blocked by the EC, to merge its Three UK unit with Telefonica's O2.
    • The move would make the combo the biggest wireless provider in Italy, competing against Vodafone (VOD +1.3%) and Telecom Italia (TI +2.3%), though Hutchison and VimpelCom agreed to concessions and asset sales to help create a new entrant in France's low-cost provider Iliad (OTCPK:ILIAY -4.2%).
    • The EC is scheduled to officially rule on the case by Sept. 8.
    | Fri, Jul. 8, 1:57 PM | 1 Comment
  • Wed, Jul. 6, 1:56 PM
    • Hutchison (OTCPK:HUWHY) and VimpelCom (VIP +0.3%) -- trying to merge their Italian units Three Italia and Wind Telecomunicazioni -- have submitted a new concession plan to European regulators in the wake of a new entrant to the Italian market.
    • The two have worked against tough odds for months to merge the units into Italy's biggest wireless provider, but their agreement to sell spectrum, sites and services to enable France's Iliad (OTCPK:ILIAY) to enter the market have likely changed the game.
    • European regulators have taken a tougher approach to telecom consolidation under Margrethe Vestager. Regulators vetoed Hutchison's bid for O2 in the UK in May, and last year Sweden's TeliaSonera and Norway's Telenor called off a merger of their Danish operations after EC opposition.
    • Facing the increased likelihood that it will be displaced as Italy's largest wireless carrier, Telecom Italia (NYSE:TI) is now down 8.8% in U.S. trading. It closed down 10.8% in Milan.
    | Wed, Jul. 6, 1:56 PM
  • Fri, May 27, 10:39 AM
    • After a failed sale of its O2 wireless carrier in the UK to Hutchison (OTCPK:HUWHY), Telefonica (TEF -0.4%) is now favoring keeping the unit in-house, Bloomberg reports.
    • The company needs to reduce debt but is reportedly coming to the conclusion that it's better off with O2 than without, and will look for other ways to deleverage (which could include an IPO for at least part of O2).
    • A long-in-the-making £10.3B deal to merge O2 with Hutchison's Three UK was blocked by the European Commission earlier this month for competitive reasons. Before that, Chairman Jose Maria Alvarez-Pallete had said if Telefonica was still drawing earnings from O2, it wouldn't need to raise as much as what it aimed for in a sales process.
    | Fri, May 27, 10:39 AM
  • Fri, May 13, 3:30 PM
    • Hutchison (OTCPK:HUWHY) is facing long odds in appealing the EC's decision to block the merger of its Three UK mobile provider with O2 (TEF -0.7%).
    • “I think that the chances of a successful appeal are small – the European Commission has done a thorough job and will have plenty of material to justify its decision," a telecom/M&A lawyer tells CTFN.
    • Even if it were to be successful, an appeal would take at least a year -- and Telefonica may likely go with another suitor, like Liberty Global (LBTYA -1.1%).
    • European tie-ups are being closely watched as the EC has taken a tougher stance on deals under the leadership of Margrethe Vestager. Last year, Sweden's TeliaSonera and Norway's Telenor called off a merger of their Danish operations amid the opposition of Vestager's EC.
    • Now read Telefonica Dividend Reliant On EU Politics Following Mixed Q4 2015 Results »
    | Fri, May 13, 3:30 PM
  • Thu, May 12, 3:07 PM
    | Thu, May 12, 3:07 PM
  • Wed, May 11, 8:13 AM
    • EU antitrust regulators have blocked Hutchison's (OTCPK:HUWHY) planned £10.3B ($14.9B) acquisition of O2 from Telefonica (NYSE:TEF), saying the deal would have led to higher mobile phone prices in Britain.
    • "We will study the commission's decision in detail and will be considering our options, including the possibility of a legal challenge," Hutchison said in a statement.
    • Today's decision also raises the bar for Hutchison's planned combination in Italy with Vimpelcom, which is the subject of a full-scale EU investigation.
    | Wed, May 11, 8:13 AM
  • Tue, May 3, 7:27 AM
    • The European Commission is set to torpedo Hutchison's (OTCPK:HUWHY) planned multibillion-dollar takeover of Telefonica's (NYSE:TEF) British cellphone operator O2, WSJ reports.
    • The move comes after the companies failed to assuage the regulator's concerns the deal would lead to higher prices and less choice for U.K. consumers.
    | Tue, May 3, 7:27 AM
  • Mon, Apr. 25, 12:46 PM
    • The European Commission is set to block the £10.3B (about $14.9B) purchase of O2 (TEF -0.7%) by Hutchison (OTCPK:HUWHY), a deal that would have created the UK's biggest wireless carrier, Reuters reports.
    • The deal would have merged Telefonica's O2, the No. 2 provider in the country, with Hutchison's Three UK, the fourth-largest. But the result would have been the top carrier and reduced the market to three competitors, facts that came to bear for Margrethe Vestager, head of the EC's Competition Commission.
    • Tricky concessions offered by the two, including divestments, weren't enough to address fears, sources said.
    • Last week as prospects for the deal seemed to dim, Telefonica acknowledged it was looking at a few alternate plans to try to cut a debt pile that amounts to more than $56B.
    • Now read Telefonica Dividend Reliant On EU Politics Following Mixed Q4 2015 Results »
    | Mon, Apr. 25, 12:46 PM
  • Thu, Apr. 21, 3:49 PM
    • VimpelCom (VIP -1.7%) and Hutchison (OTCPK:HUWHY) have an extension to finish a slowgoing merger of their Italian operations, to Aug. 18.
    • The companies asked for more time to combine Wind Telecomunicazioni (VimpelCom's unit) and Three Italia (Hutchison's).
    • The combo, which would merge the No. 3 and No. 4 mobile operators in Italy, s getting a hard look from European competition regulators.
    • Meanwhile, VimpelCom priced $1.2B in bonds in two tranches -- $500M in 6.25% senior notes due 2020, and $700M in 7.25% senior notes due 2023.
    • That offering should settle on Tuesday; proceeds will be used for general purposes.
    • Now read Russian Telecoms: Perspectives And Ideas For 2016 »
    | Thu, Apr. 21, 3:49 PM
  • Tue, Apr. 19, 12:39 PM
    • With a sale of its UK mobile unit O2 to Hutchison (OTCPK:HUWHY) at risk, Telefonica (TEF +3%) is now considering a few "plans B" to reduce heavy debt.
    • That includes trying to merge O2 with another company with mobile interests, like Liberty Global (NASDAQ:LBTYA) or a private-equity buyer, or even spinning it into a British IPO, Bloomberg reports.
    • A deal of about £10.3B ($14.6B) to combine O2 with Hutchison's Three UK would go a long way toward cutting €49.9B ($56.5B) in debt. And Telefonica still prefers that as the "cleanest" option to reduce investor uncertainty.
    • The deal's at risk while Hutchison considers even more concessions, as the EC reportedly prefers the creation of a fourth operator in the UK out of the transaction, rather than simply reinforcing smaller MVNOs. Hutchison may be prepared to go to court instead, saying unloading a (changed) O2 or Three to someone else undermines the rationale for the combination.
    • Now read Telefonica Dividend Reliant On EU Politics Following Mixed Q4 2015 Results »
    | Tue, Apr. 19, 12:39 PM
  • Mon, Apr. 11, 10:05 AM
    • UK regulators are taking a hard line on the proposed merger between telecoms Three UK (OTCPK:HUWHY) and O2 (TEF +1%), expressing serious concerns to European watchdogs about what a combo might mean to the UK market.
    • The UK Competition and Markets Authority's chief executive Alex Chisholm has told Margrethe Vestager, head of the EC's Competition Commission, that the merger is likely to lead to higher prices, lower quality or both.
    • Today the CMA suggested that either Three's or O2's mobile network business be divested completely or for the companies to allow for carve-outs.
    • Hutchison's proposal to merge its No. 4 provider with O2, the country's No. 2, would create the UK's largest carrier and reduce the market to three competitors. The UK asked to take over the deal investigation, but in December, the EC (which had opened a full probe) rejected that request.
    • In early March, Hutchison headed into closed-door meetings with the EC to discuss how to make the deal happen.
    • Now read Telefonica Dividend Reliant On EU Politics Following Mixed Q4 2015 Results »
    | Mon, Apr. 11, 10:05 AM | 1 Comment
  • Thu, Apr. 7, 2:54 PM
    • The long-in-the-making merger of Italy's No. 3 and No. 4 mobile operators is getting a hard look for antitrust concerns at the European Commission, CTFN says.
    • Wind Telecomunicazioni -- the Italian unit of Vimpelcom (VIP -3%) -- and Hutchison's (OTCPK:HUWHY) Three Italia submitted remedies to the EC, but beyond that a source says the commission will make sure there's a third party who's interested in acquiring divested frequencies.
    • Failing that, the combo could be blocked. The EC had opened a full probe into the tie-up last week after rebuffing an effort from Italy's government to take over the review.
    • The EC is concerned about "higher prices, less choice and reduced innovation for mobile customers in Italy."
    • Now read Russian Telecoms: Perspectives And Ideas For 2016 »
    | Thu, Apr. 7, 2:54 PM
  • Wed, Mar. 30, 4:46 PM
    • The European Commission has opened an in-depth probe into the deal to merge Italian operations between Hutchision (OTCPK:HUWHY) and VimpelCom (NASDAQ:VIP), with a focus on the effect it will have on consumer prices.
    • The long-discussed combination of Hutchison's Three Italia with VimpelCom's Wind Telecomunicazioni "could lead to higher prices, less choice and reduced innovation for mobile customers in Italy," the EC says.
    • The two companies will cooperate with the investigation into a deal that would reduce Italy's market to three players and create its biggest mobile carrier by subscriber numbers.
    • The news follows a stronger line by the EC on Hutchison's plan for its takeover of O2 in the UK as well. The EC will take 90 days to examine the Three-Wind deal, with an Aug. 10 deadline to decide on the deal.
    • Previously: EC reportedly reviewing remedies to enable Italy telecom merger (Mar. 22 2016)
    • Previously: Italian regulators ask EC to transfer review of €21.8B telecom merger (Feb. 26 2016)
    | Wed, Mar. 30, 4:46 PM
  • Tue, Mar. 22, 12:03 PM
    • The European Commission is reviewing remedies proposed by VimpelCom (NASDAQ:VIP) and Hutchison Whampoa (OTCPK:HUWHY) to enable their long-awaited merger of Italy operations, CTFN reports.
    • The companies' Italian units -- VimpelCom's Wind Telecomunicazioni and Hutchison's Three Italia -- agreed to a 50-50 combination in a €21.8B deal last August after lengthy talks. The combination would surpass Telecom Italia's TIM and Vodafone in total customers.
    • The EC was set to issue a preliminary decision earlier this month but extended its deadline to March 30 as it discusses commitments from the carriers, including frequency divestment, to make the deal happen.
    • No price controls are likely to come in at an end-user level, a source tells CTFN, but some restrictions may come at the wholesale level -- welcome news for the country's MVNOs, which buy and re-sell service.
    | Tue, Mar. 22, 12:03 PM
  • Tue, Mar. 1, 4:58 PM
    • Hutchison (OTCPK:HUWHY) is headed to a closed-door meeting with EU regulators to address objections to its £10.3B deal to buy out rival telecom O2 (TEF +4.3%), Reuters reports.
    • The company will meet with the European Commission on March 7, along with rivals Sky (OTCQX:SKYAY +2.4%), Virgin Media (LBTYA +2.8%), TalkTalk (OTC:TKTCY), Vodafone (VOD +3.1%) and BT Group (BT +3.4%). Iliad (OTCPK:ILIAY +2.5%), the small provider owned by French billionaire Xavier Niel, could also take part.
    • The long-in-the-works deal has generated plenty of heat, as the combination of Hutchison's Three UK (the country's No. 4 wireless provider) with Telefonica's O2 (the No. 2 provider) would create the country's largest, reducing the market to three major competitors.
    • When the EC opened a full probe into the deal in October, the move suggested that heavy concessions were likely on the way to make the deal happen -- and they may include creating a smaller competitor. (TalkTalk has said it would love to help.)
    • The UK tried to take over the probe, but the EC rejected that request and kept control of the deal investigation in early December.
    • After hours: TEF -4.2%; LBTYA, VOD, BT flat.
    • Previously: Europe rejects UK's effort to examine Three's O2 buyout (Dec. 04 2015)
    • Previously: Europe opens full probe into Telefonica-Hutchison UK mobile merger (Oct. 30 2015)
    | Tue, Mar. 1, 4:58 PM
  • Dec. 4, 2015, 11:33 AM
    • The European Commission has rejected the UK's request to examine the combination of Three UK and O2, proposed to create Britain's biggest mobile operator.
    • UK antitrust authorities had argued they were in a better position to probe Hutchison Whampoa's (OTCPK:HUWHY) £10.3B bid to combine its Three unit with Telefonica's (TEF -1.2%) O2.
    • "The Commission concluded that, given its extensive experience in assessing cases in this sector, it was better placed to deal with the transaction and ensure consistency in the application of merger control rules in the mobile telecommunications sectors across the European Economic Area," said an EC official.
    • Previously: UK delays spectrum auction to allow for Three/O2 merger (Dec. 03 2015)
    | Dec. 4, 2015, 11:33 AM
Company Description
Hutchison Whampoa Limited (HWL) is a renowned multinational conglomerate committed to innovation and technology.
Sector: Financial
Industry: Diversified Investments
Country: Hong Kong