According to Reuters, May 9, Hutchison Whampoa Limited (0013.HK, hereinafter referred to as “Hutchison Whampoa”) submit the amended value of € 2 billion offer to acquire the brink of bankruptcy of the Irish phone company Eircom, Group . Eircom has been in the end of March, the Court approved a request from the recourse of creditors, so the company can restructure the debt of 3.75 billion euros, this project has become Enterprise Ireland, the largest in the history of a supervision and restructuring of the case.
In fact, the proportion of foreign investment in the Li Ka-shing the overall territory. Long indeed all the staff more than 30 000 overseas employees over 200,000. And Hutchison Whampoa in 2011 revenue is $ 387.7 billion, 42 percent from Europe.
Hutchison Whampoa spokesman told this reporter that the rumors declined to comment until the company issued a public notice will have to respond.
The earlier news that the cash acquisition of Hutchison Whampoa Three Ireland, but it was Eircom’s appointed by the court overseeing the restructuring of people rejected, because its bid comes with too many conditions. Eircom has rejected the offer submitted last week by Hutchison Whampoa, and Hutchison Whampoa’s offer to amend the original proposal to acquire, reduce some of the prerequisites for the maintenance of the purchase price of € 2 billion unchanged.
Has been adopted by the main creditors of the company’s restructuring proposal in principle. “Eircom, has said that the company tends to allow holders of the company claims the company, through the debt swap, the Group’s controlling shareholder, and control of the company . In March this year, the company holds up to Eircom claims – the Blackstone Group’s two business department had planned to write-off 15% of the the Eircom owed € 2.36 billion in loans, in exchange for full control of the company.
Eircom is a major supplier of fixed-line telecommunications services in Ireland. In Ireland, the company has approximately 2.6 million fixed-line telephone access channels, with 1.065 million customers. One of the mobile phone division, Meteor is Ireland’s third largest mobile operator.
However, Eircom, has been filing for bankruptcy protection on March 30, 2012. The above-mentioned debt of 3.75 billion euros in 1999-2012.
The past 10 years, especially the debt crisis in Europe after Li Ka-shing, Hutchison Whampoa, the communications business increased by over 310 million investment. European companies are becoming the new darling of the Li Ka-shing.
Overseas investment gradually put in place, long lines slow down the pace of acquisitions. And Hutchison Whampoa’s overseas investment has significantly increased. According to the company’s performance report in February this year, and Hutchison Whampoa’s telecommunications company 3 Austria to France Telecom and a private equity fund to buy Austrian mobile operator Orange Austria, the transaction value of € 1.3 billion (including debt).
In fact, the acquisition of Ireland’s Eircom just Hutchison Whampoa “European Tour” move.
In addition to the purchase in February of this year, Orange Austria, and the second half of last year, Hutchison Whampoa announced the successful acquisition of the British water company the Northumbrian Water. On port operations, Hutchison Whampoa also enabled the UK’s largest container port in the Phillips Sidu Hong Kong a new deep-water cargo pier. The new terminal, including two berths. And this is only the first stage of the Group of more than ￡ 1 billion investment in the UK ports.
In the amount of HK $ 387.7 billion in 2011 revenue and Hutchison Whampoa, 42% from Europe. , Europe 3 Group, the telecommunications industry contributed 15 percent of total income.
Not long ago, the 2011 performance report at the meeting of the long and the Department, Li Ka-shing, frankly, the growth of the company’s employees in Europe is higher than the growth of its employees in Hong Kong. Long it is overseas investment has been 30 years, all employees in Hong Kong more than 30 000 overseas employees from thousands of people to grow to over 200,000.
European debt crisis, many European companies to reduce the liabilities, had low-priced sale of assets, this is probably the Li Ka-shing to see the opportunity. “A Hong Kong stock analyst told this reporter.
The same time, the investment bank Jefferies Securities analyst Julian Bu, told the newspaper, and the layout of Hutchison Whampoa Europe and the United States one of the reasons the United States and Europe are more developed legal protection of assets. In addition, in the telecommunications business in Europe, Hutchison Whampoa investments in telecommunications business for more than a decade, it had to continue the business. Hutchison Whampoa to invest in the local for more than 10 years after they have been losing money. If you want to sell telecommunications services, not only the price of bad, and very few agencies can afford.
“Compared with the large telecommunications providers, and Hutchison Whampoa’s operations in Europe, like a small telecommunications companies in Guangdong and China Mobile in the competition.” Julian Bu, supplement, will expand the scale of U.S. business, do a lot of years. Enterprises in China, including Hong Kong companies will often change the business, this shift is one of the reasons to the Hutchison Whampoa cause problems.
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