World VoIP NewsHTIL delisting in HK tomorrow
HTIL delisting in HK tomorrow
Shares of Hutchison Telecommunications International Limited (HTIL) will be permanently delisted from the Hong Kong Stock Exchange from 25 May 2010 following court approval of its privatisation by parent Hutchison Whampoa.
Dow Jones Newswires reports that the group received approval from the Grand Court of the Cayman Islands (where HTIL is registered) on Friday to take the unit private in a deal worth USD545 million. Minority shareholders of HTIL, which runs unprofitable operations in Sri Lanka, Indonesia and Vietnam, had already approved the buyout plan, and the company's shares will also be delisted from the New York Stock Exchange with effect from 4 June 2010.
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