HONG KONG, March 9 /Xinhua-PRNewswire-FirstCall/ -- Hutchison Telecommunications International Limited ("the Company", SEHK: 2332; NYSE: HTX) announced today that its shareholders approved the proposed sale of the Company's entire direct and indirect rights and interests in respect of Hutchison Essar Limited to a subsidiary of Vodafone Group Plc for a total cash consideration of approximately US$11.1 billion (approximately HK$87 billion).
At the extraordinary general meeting of the Company held earlier today, the transaction was approved by an overwhelming majority of the shareholders who voted at the meeting.
Completion of the potential sale is expected to take place no earlier than 2 April, 2007.
About Hutchison Telecommunications International Limited
Hutchison Telecommunications International Limited ('Hutchison Telecom' or 'the Group') is a leading global provider of telecommunication services. The Group currently offers mobile and fixed-line telecommunication services in Hong Kong, and operates or is rolling out mobile telecommunication services in Macau, India, Israel, Thailand, Sri Lanka, Ghana, Indonesia and Vietnam. It was the first provider of 3G mobile services in Hong Kong and Israel. Its leading brands include "Hutch", "3" and "Orange".
Hutchison Telecom is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker HTX and shares listed on the Stock Exchange of Hong Kong under the stock code 2332. A member of the Hong Kong-based Hutchison Whampoa Group, Hutchison Telecom is committed to providing superior telecommunication services in dynamic markets. For more information about Hutchison Telecom, see www.htil.com.
Cautionary Statements
This press release contains forward-looking statements. Statements that are not historical facts, including statements about the beliefs and expectations of Hutchison Telecommunications International Limited ('the Company'), are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks, uncertainties and assumptions. The Company cautions you that if these risks or uncertainties ever materialise or the assumptions prove incorrect, or if a number of important factors occur or do not occur, the Company's actual results may differ materially from those expressed or implied in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from the Company's forward-looking statements can be found in the Company's filings with the United States Securities and Exchange Commission.
For enquiries, please contact:
Mickey Shiu
Corporate Communications
Hutchison Telecom
Work: +852-2128-3107
Mobile: +852-9092-8233
Email: mickeyshiu@htil.com.hk
Dan Evans
Investor Relations
Hutchison Telecom
Work: +1-425-709-8888 ext 284
Mobile: +1-425-753-0737
Email: danevans@htil.com.hk
