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Hutchison Whampoa Limited (HWL) is a Hong Kong-based diversified, multinational conglomerate with its origins dating back to the 1800s. It is an international corporation with businesses spanning the globe. The company's operations consist of five core businesses - ports and related services; property and hotels; retail and manufacturing; energy, infrastructure, finance, and investments; and, telecommunications.
HWL's telecommunications division consists of a 70% interest (as of December 31, 2004) in Hutchison Telecommunications International Ltd (HTIL), which was listed on the Stock Exchanges of Hong Kong and New York in October 2004, and the 3 Group businesses in Europe (seven countries) and Australia. As of the end of 2004, HTIL held the Group's interests in the 2G and 3G mobile operations in Hong Kong and Israel, Hutchison Global Communications Holdings (HGCH), the 2G mobile operations in India, Macau, Sri Lanka, Ghana, and Paraguay, and the CDMA2000 1X operations in Thailand. During the first eight months of 2005: Partner Communications Co Ltd in Israel became a subsidiary of HTIL (in April 2005); the acquisition of PT Cyber Access Communications in Indonesia was completed in
July 2005; in February 2005, HTIL received approval to conduct a business co-operation to build, develop and operate a mobile network in Vietnam; and, HTIL completed the sale of its operations in Paraguay in July 2005.
As part of the Li Ka-shing group of companies, HWL's ultimate shareholder is Cheung Kong (Holdings) Limited, which had a 49.97% interest in the company as of August 1, 2005. As of that date, Cheung Hong (Holdings) held a direct stake of 0.63% in HTIL and through HWL owned 74.33% of HTIL.
During August 2005, HTIL acquired all the HGCH shares that it did not already own in exchange for either cash or HTIL shares, which resulted in HTIL issuing approximately 253 million new shares to HGCH shareholders. After the sale, Hutchison Whampoa's interest in HTIL was diluted from 74.33% to approximately 69.1%.
