CK Hutchison are close to agreeing to a £15-billion combination of their UK telecommunications businesses that would create the country’s biggest mobile operator, the Financial Times reported on Thursday.
The deal will value the equity of the combined group at about £9-billion, with roughly £6-billion of debt, the FT said, citing three people familiar with the matter.The combination could also enable Hong Kong-based CK Hutchison to withdraw from the UK telecoms market, the newspaper added. However, it added that no agreement has been finalised and circumstances may still change.
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