By Kane Wu and Amy-Jio Crowley
Hong Kong/London (Reuters) -Hong Kong Conglomerate CK Hutchison Holdings LTD has started preparing to rotate its global telecommunications assets and listing business in London, two people said.
The company has discussed the plan with a small group of financial advisers, people said.
The Supette formation will host the CK Hutchison Telecommunication Enterprises in Europe, Hong Kong and Southeast Asia, said people who spoke on condition of anonymity as the information was confidential.
Business can be estimated between £ 10 billion and £ 15 billion ($ 13-19 billion), one of the people said.
CK Hutchison, founded by Hong Kong’s billionaire Li Ca-Shing, seeks to list the formation this year, the person said, adding that time could slip due to the complexity of the transaction.
A spokesman for CK Hutchison declined to comment.
A list of London, potentially one of the biggest in the last few years, would be a push for the London Stock Exchange, which was losing to rivals to large fleets. The UK has launched extensive reforms to make more attractive companies list in London.
CK Hutchison focuses on improving the group’s return. He is working on a deal to sell most of his global business ports, including assets near the Panama Canal, for the value of equity of $ 14.2 billion on a consortium led by Blackrock.
US President Donald Trump welcomes the deal as a “restoration” of the Panama Canal. His administration had previously called for the removal of what he said was Chinese ownership of ports near the channel.
But in the last few weeks, Hong Kung Pao has published a series of comments criticizing the deal to damage China’s national interests and its depiction as a betrayal of China.
The South China Morning Post announced on Friday that CK Hutchison will not sign the deal to sell its two ports near the Panama Consortium channel led by Blackrock next week.
CK Hutchison did not immediately respond to Reuters’ request for comment on the Southern China report in the morning.
Telecommunications assets
The port deal can dispel the CK Hutchison from the advancement of the exclusion plan, as the company deals with approval and geopolitical uncertainty, said the first person and a third party with a knowledge of the matter.
The company’s advisers are confronted with the frightening task of sorting the different parts of CK Hutchison’s telecommunications assets, which have operations in a wide range of markets and various shareholder structures, the first person said.