Transactions - JULY 31, 2017

I Squared in $1.9b Hong Kong telecommunications buy

by Andrea Waitrovich

CK Hutchison Holdings has agreed to sell its fixed-line telecommunications business to I Squared Capital, through its ISQ Global Infrastructure Fund II, for $1.86 billion.

The assets included are owned by closely held unit Hutchison Global Communications Ltd.

The transaction is expected to close by October 2017.

HGC is a leading fixed-line service provider to fixed and mobile carriers, OTT service providers, corporate and business, residential and data centers in Hong Kong and around the world. Its over 1.4-million-kilometer fiber network connects to over 14,200 buildings and it is also one of Hong Kong’s largest-scale Wi-Fi service providers with over 25,000 Wi-Fi hot spots.

For I Squared Capital, founded by former Morgan Stanley Infrastructure Partners dealmakers, the agreement comes about a month after it said it was seeking $5 billion for a global fund to invest in power, transportation and utilities companies, according to Bloomberg.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy