Deals
Li’s Hutchison to Buy Orange Austria in $1.7 Billion Deal
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Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa Ltd. agreed to buy Orange Austria in a deal valued at 1.3 billion euros ($1.7 billion), adding to more than $31 billion of investments in overseas mobile-phone operations.
Hutchison 3G Austria, the local unit of Hutchison, expects to complete the purchase of Orange Austria in the middle of this year, the Hong Kong parent said in a statement today. Some Orange Austria assets, including mobile carrier Yesss!, will be sold to Telekom Austria Group for 390 million euros after the acquisition, Hutchison said.