Hutchison Telecom has reported a 16% growth in revenues, bringing them in a HK$24bn, but here’s the kicker – net income has dropped from HK$66.8bn to a shade under HK$1.9bn – crumbs….
…. but that’s maybe not the most interesting news – Hutchison has also confirmed that it will be spinning off the Hong Kong holding company, which consists of the landline and Mobile operations in Hong Kong and Macau. Hutchison has stated the reason for doing this is that it will allow the value of these two profit-making operations to be better recognised by the public market valuations.
Hmm, okay, but at a time with so much uncertainty on so many different scales, isn’t that a risky strategy? Time, as usual, will tell…..
[Via: Cellular News]