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
  • Wed, Jul. 6, 10:09 AM
    • Telecom Italia (NYSE:TI) is hitting a two-and-a-half-year low, down 9.4%, following a downgrade from JPMorgan amid hot new competition in Italy's mobile sector.
    • The analysts lowered their rating on the Italian incumbent to Neutral, from Overweight, as Iliad (OTCPK:ILIAY) has confirmed reports that it's got a deal to buy assets from Hutchison (OTCPK:HUWHY) and VimpelCom (VIP +0.3%) and enter the mobile market as a fourth player.
    • That deal will enable a long-challenged merger of Hutchison and VimpelCom's Italian units. Two blocks of 35 MHz of spectrum will be transferred for a total of €450M, and Iliad also has a deal to acquire several thousand macro sites in dense areas.
    • Iliad's top shareholder, Xavier Niel, says he doesn't have a material stake in Telecom Italia; his position amounts to less than €25M, he says, and he'll dispose of it within the next few weeks.
    | Wed, Jul. 6, 10:09 AM | 1 Comment
  • Thu, May 12, 3:07 PM
    | Thu, May 12, 3:07 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
  • 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
  • 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
  • Mon, Feb. 22, 2:52 PM
    • Deutsche Telekom (OTCQX:DTEGY +2.1%) has a unique new project on the way: A smartwatch based on a tie-up with musician will.i.am (a k a Black Eyed Peas frontman William Adams).
    • The watch -- called "dial" -- will be targeted to European countries and mostly voice controlled, with an understandable focus on music.
    • It will have a SIM card embedded, differentiating it from competitors whose watches depend on a smartphone connection.
    • DT has an exclusive in some European countries where it already has a presence. Will.i.am has a similar deal with U.K. carrier Three (OTCPK:HUWHY), but no such arrangement with Deutsche Telekom's U.S. unit, T-Mobile (TMUS +1.8%).
    | Mon, Feb. 22, 2:52 PM | 1 Comment
  • Sep. 18, 2015, 1:25 PM
    • Antitrust regulators in Europe are set to launch a wide probe into Hutchison Whampoa's (OTCPK:HUWHY) £10.3B bid for O2, the UK mobile unit of Telefonica (TEF -4.1%) -- which likely means key concessions are coming, Reuters reports.
    • The plan to merge Hutchison's Three with O2 was a long time coming, and now it's facing what looks like a sterner regulatory regime whose stance helped kill a plan to merge the Danish operations of TeliaSonera and Telenor.
    • The EU's competition authority has an Oct. 16 deadline for preliminary review but is expected to follow with a full-blown investigation that should last five months.
    • Proper concessions are likely to be challenging, however: Three UK shares a 3G network with market leader EE (ORAN, OTCQX:DTEGY), while Telefonica shares some towers with Vodafone (NASDAQ:VOD) -- which has been vocal about ensuring competition as the UK market consolidates.
    | Sep. 18, 2015, 1:25 PM
  • Aug. 6, 2015, 9:47 AM
    • VimpelCom (NASDAQ:VIP) is up 3.8% after the company finally came to agreement to merge its Italy unit, Wind Telecomunicazioni, with Hutchison's (OTCPK:HUWHY) Three Italia, in a €21.8B deal (about $24B), creating a telecom carrier that would surpass Telecom Italia (TI -1.9%) as Italy's leader in total customers, with more than 31M.
    • The talks -- in progress for well over a year -- result in a 50/50 venture where Wind's CEO Maximo Ibarra will keep his role while Three's COO Dina Ravera will oversee integration. Each firm will nominate three board members to a six-member board.
    • The deal values Wind at €13.9B and Three at €7.9B. An IPO for the JV was reported to be considered earlier, though VimpelCom CEO Jean-Yves Charlier says they haven't discussed one.
    • The transaction requires antitrust approval from Europe, but Italy is late to the consolidation game, as countries like Germany, Ireland and Austria had previously gone from four carriers to three.
    • The companies say the deal will deliver cost savings of more than €5B, mainly from combining the mobile networks.
    • VimpelCom also posted Q2 results where its Q2 revenues narrowly beat expectations despite a 26% drop.
    | Aug. 6, 2015, 9:47 AM
  • Jul. 29, 2015, 5:44 PM
    | Jul. 29, 2015, 5:44 PM
  • May 15, 2015, 2:52 PM
    • VimpelCom (NASDAQ:VIP) is among the highest-gaining telecoms of the day, up 5.1%, after a couple of analysts raised price targets following news of progress on VIP's (slow) Italy merger talks.
    • RBC Capital raised its price target on shares to $6.50, and maintains a rating of Outperform.
    • Meanwhile, Renaissance Capital today raised the price target to $5.10 (from $4.40) while downgrading the stock to Sell.
    • For well over a year, VimpelCom has been talking with Hong Kong conglomerate Hutchison Whampoa (OTCPK:HUWHY) about merging its Wind Telecomunicazioni with Hutchison's Three Italia (Nos. 3 and 4 in the Italy market) to take on market leader Telecom Italia. On Wednesday, discussions centered on an even split in the merger.
    • Shares are trading currently at $6.35.
    | May 15, 2015, 2:52 PM
  • May 13, 2015, 9:11 AM
    • VimpelCom's (NASDAQ:VIP) talks with Hutchison Whampoa (OTCPK:HUWHY) about merging their Italian wireless units are centering on an equal split, says VimpelCom CEO Jean-Yves Charlier.
    • A merger's been under discussion for some time, though recent speculation over wrapping a deal in the next three months has centered on the exact split of ownership as a top hurdle, along with net debt at VimpelCom's Wind Telecomunicazioni operator.
    • "We are in discussions with Hutchison regarding a possible equal joint venture between Three Italia SpA and VimpelCom's subsidiary Wind Telecomunicazioni SpA," Charlier said in a statement.
    • In premarket action, VIP ADRs are up 3.1%.
    • Previously: VimpelCom reports Q1 results (May. 13 2015)
    • Previously: Bloomberg: VimpelCom, Hutchison agree on Italy merger management (May. 12 2015)
    | May 13, 2015, 9:11 AM
  • Feb. 24, 2015, 8:02 PM
    • U.K. mobile firms are likely looking at a license fee increase as regulator Ofcom follows its government mandate to ensure spectrum fees reflect market value.
    • EE (ORAN, OTCQX:DTEGY) -- on its way to becoming part of BT Group (NYSE:BT) -- Three (OTCPK:HUWHY), O2 (NYSE:TEF) and Vodafone (NASDAQ:VOD) could see fees for the 900 MHz and 1800 MHz bands rising to a total £223.3M/year ($345.5M/year) -- up from the combined £64.4M/year they pay now.
    • Considering proportional increases, EE might see its current £24.9M/year rise to £75.6M.
    • Related mobile stocks were up today, with the exception of Vodafone, which saw a downgrade from Bank of America: ORAN +1.7%; OTCQX:DTEGY +1.9%; TEF +1.4%; OTCPK:HUWHY +0.3%; VOD -3.3%.
    • Previously: Vodafone lower after BofA downgrade (Feb. 24 2015)
    | Feb. 24, 2015, 8:02 PM | 1 Comment
Company Description
Hutchison Whampoa Limited (HWL) is a renowned multinational conglomerate committed to innovation and technology.
Sector: Financial
Industry: Diversified Investments
Country: Hong Kong