Hong Kong's CK Group never withdraws from any markets - chairman
18/05/2023 12:46
HONG KONG, May 18 (Reuters) - Hong Kong's CK Group has
never withdrawn from any markets despite some asset sales in
Europe, its chairman said on Thursday, following recent media
reports it was shifting its focus back to Hong Kong and Mainland
China.
Victor Li, chairman of CK Hutchison 0001.HK and CK Asset
1113.HK , said at an annual general meeting (AGM) that the
group would consider any quality project that can yield a
favourable return, regardless of the location.
Mainland Chinese media has reported CK Asset has divested
from Europe to reinvest in Mainland China.
"We have never withdrawn from any markets where we have
investments, whether Hong Kong, Mainland China, UK, Europe,
Australia, nor Canada," Li said. "To us, every market is a local
market."
CK Hutchison is the ports-to-telecoms arm of retired
billionaire Li Ka-shing, and CK Asset is a major property
developer in Hong Kong, which also has interests in
infrastructure and utility assets overseas.
The latter announced last week it made a cash offer for the
entire share capital of Britain's Civitas Social Housing PLC
CSH.L for 485 million pounds ($612.12 million).
Regarding a long-awaited 15 billion pound ($19 billion) plan
to merge the UK telecoms businesses of CK Hutchison and Vodafone
that would create the country's biggest mobile operator, Li said
in a separate AGM that the deal is still under negotiation, but
there had been "entirely positive" feedback from the regulator.
Vodafone's CEO said this week the merger plan is
"progressing" but is not there yet, dampening hopes of a deal
being imminent.
($1 = 0.7923 pounds)
(Reporting by Clare Jim; Editing by Sharon Singleton)
((clare.jim@thomsonreuters.com;))