IN BRIEF

NTT DOCOMO and Hutchison Telecommunications Hong Kong (HTHKH) have announced  that DOCOMO will sell its stake in Hutchison Telephone (HTCL), a mobile network operator in Hong Kong and Macau, and Hutchison 3G HK Holdings (H3GHK) to HTHKH, the major shareholder of HTCL and H3GHK, for US$60 million.

HTHKH will purchase DOCOMO’s entire 24.1% share of HTCL’s stock and thereafter HTCL will become a wholly owned subsidiary of HTHKH. The contract was signed today and the actual transfer of shares will take place in May 2019.