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CKH-Invested Telecom Operator TPG to Cut Shr Capital, Expected to Return Max. AUD3B to Shareholders
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TPG, an Australian telecom operator in which CKH HOLDINGS (00001.HK) holds a stake, announced that it completed the sale of part of its non-mobile fiber infrastructure and fixed business assets to data company Vocus for AUD5.25 billion on July 31. The deal brought in net cash proceeds of around AUD4.7 billion, and TPG intends to use it to reduce its share capital on a pro-rata basis by up to AUD1.61 per share, returning up to AUD3 billion to shareholders. CKH HOLDINGS currently holds about a 25.05% stake in TPG through its Australian-listed subsidiary Hutchison Telecommunications Australia (HTAL). Based on this holding, it is expected to receive up to AUD751.5 million, equivalent to nearly HKD3.82 billion. AAStocks Financial News |
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