CK Hutchison shelves telco unit listing to focus on asset sales

HONG KONG/LONDON: Hong Kong conglomerate CK Hutchison Holdings is unlikely to move ahead with plans to list its global telecoms business, and will focus instead on selling individual assets, three people with knowledge of the matter said.

The company had been ‌weighing listing the ⁠business ⁠in London and Hong Kong as soon as the third quarter, after spinning it off from the group, Reuters reported in January. That is now unlikely to happen in the near term after CK Hutchison decided to sell its 49% stake in a British joint venture with Vodafone last week, one of the biggest pieces of its global telco business, the sources said.