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CK HUTCHISON HOLDINGS LIMITED

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CK Hutchison : Cellnex says it has no doubt UK watchdog will approve CK Hutchison deal

07/29/2021 | 02:27am EDT
FILE PHOTO: Telecom antennas of SpainÕs telecoms infrastructures firm Cellnex are seen under main telecom tower, known as

BARCELONA (Reuters) - Spanish phone tower operator Cellnex has no doubt that Britain's competition watchdog will end up approving its deal with Hong Kong's CK Hutchison, its Chief Financial Officer Jose Manuel Aisa told Reuters.

The Competition and Markets Authority (CMA) said on Tuesday it would refer the UK telecom tower deal for a deeper "Phase 2" investigation after it initially warned it could lead to higher prices and lower quality services for network operators.

Aisa deemed the probe "absolutely normal" and said he expected the "Phase 2" investigation would not be resolved before around June 2022.

Last year, Cellnex said it would buy 24,600 telecom towers across Europe from CK Hutchison, which owns the Three mobile network in Britain, for 10 billion euros ($11.81 billion).

($1 = 0.8467 euros)

(Reporting by Joan Faus, editing by Inti Landauro)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CELLNEX TELECOM, S.A. 1.50% 58.06 Delayed Quote.35.87%
CK HUTCHISON HOLDINGS LIMITED -2.23% 52.5 End-of-day quote.-2.96%
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Analyst Recommendations on CK HUTCHISON HOLDINGS LIMITED
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Financials
Sales 2021 400 B 51 374 M 51 374 M
Net income 2021 41 845 M 5 377 M 5 377 M
Net Debt 2021 134 B 17 258 M 17 258 M
P/E ratio 2021 5,01x
Yield 2021 5,48%
Capitalization 201 B 25 894 M 25 893 M
EV / Sales 2021 0,84x
EV / Sales 2022 0,75x
Nbr of Employees 172 907
Free-Float 69,4%
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Mean consensus BUY
Number of Analysts 10
Last Close Price 52,50 HKD
Average target price 74,79 HKD
Spread / Average Target 42,5%
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Managers and Directors
Tzar Kuoi Li Chairman & Group Co-Managing Director
Kin Ning Fok Group Co-Managing Director & Executive Director
Frank John Sixt Group Finance Director & Executive Director
Yick Ming Wong Independent Non-Executive Director
Hoi Chuen Cheng Independent Non-Executive Director
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