Hutchison to sell $4.3 bln stake in UK mobile unit to GIC, Abu Dhabi fund

Thu May 7, 2015 9:34pm EDT
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HONG KONG May 8 (Reuters) - Hutchison Whampoa Ltd has agreed to sell a one-third stake in its British mobile phone business for $4.3 billion to a group of investors including Singaporean and Abu Dhabi sovereign wealth funds.

Singapore's GIC Pte, the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board and Brazilian investment bank Grupo BTG Pactual SA were among investors who agreed to pay 2.77 billion pounds ($4.3 billion) in cash for the stake, Hutchison said in a securities filing.

Hutchison, the ports-to-telecoms group of Hong Kong billionaire Li Ka-shing, in January agreed to buy Telefonica's British mobile unit O2 for nearly $15.4 billion, merging O2 with its Hutchison 3G UK Holdings unit.

($1 = 0.6494 pounds) (Reporting by Elzio Barreto; Editing by Edwina Gibbs)