Telecommunications conglomerate Hutchison Whampoa has raised its ownership of Hutchison Telecommunications Holdings to over 50%, to better capture growth opportunities in the telecom firm's existing markets, a Dow Jones report said.
The Dow Jones report said blue chip Hutchison Whampoa said in a statement it raised its stake in Hutchison Telecommunications to 50% from 49.75%.
Hutchison Whampoa bought 12 million Hutchison Telecommunications shares, or 0.251% of its issued share capital, at an average price of HK$10.34 between ($1.3), the Dow Jones report said.
Hutchison Telecommunications is now a majority-owned unit of Hutchison Whampoa, the Dow Jones report further said.