Deals
Tycoon Li Taps Singapore Inc. for $16 Billion U.K. Wireless Push
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As billionaire Li Ka-shing finalizes a $16 billion deal to create Britain’s biggest wireless carrier, he’s turned again to his friends at Singapore Inc. to make it happen.
Li, whose Hutchison Whampoa Ltd. is merging its U.K. mobile operator with O2 UK, will sell a 1.1 billion-pound ($1.7 billion) stake in the combined operations to Singapore wealth fund GIC Pte, according to a statement Friday. The Hong Kong tycoon has now raised $12 billion selling interests in his retail, ports and telecommunications businesses to arms of the Singapore government, data compiled by Bloomberg show.