Mobile operator Orascom Telecom has reached an agreement to sell its remaining shareholding in Hutchison Telecommunications International, representing approximately 14.2 percent of HTIL's outstanding share capital, at a price of HKD 11 per share. The shares are being sold to Hutchison Whampoa and Yuda. HWL will acquire 441 million shares and Yuda will acquire 239 million shares, representing approximately 9.2 percent and 5 percent of HTIL's share capital, respectively. Total proceeds from the sale are HKD 7.5 billion. On 21 December 2005, OTH acquired a 19.3 percent interest in HTIL from HWL for a total purchase price of USD 1.3 billion or the equivalent of HKD 11 per HTIL share. Upon completion of the transaction with HWL and Yuda, OTH will have completed the sale of all HTIL shares it had purchased.
