Hutchison ditches Hong Kong fixed-line unit to concentrate on mobile

CK Hutchison, parent company of British serial moaner Three, has agreed to sell its fixed network in Hong Kong in order to focus more acutely on the mobile space.
Hutchison Global Communications, a fixed-line service provider in Hong Kong, will be sold to I Squared Capital, an infrastructure investment manager for HK$14.5 billion, or roughly €1.58 billion. It is believed Hutchison will collect a profit of HK$5.8 billion (about €630 million), which will be reinvested into the mobile bus