CK Hutchison Agrees to Sell Remaining Stake in UK Telecom Joint Venture “VodafoneThree” for £4.3 Billion

HONG KONG, May 5, 2026 – CK Hutchison Holdings Limited (“CK Hutchison” or the “Group”) today announced that its wholly-owned subsidiary, CK Hutchison Group Telecom Holdings Limited (“CKHGT”), has entered into an agreement to sell its entire 49% equity interest in VodafoneThree to Vodafone Group Plc.

Transaction Overview

Under the terms of the agreement, CKHGT will receive a total cash consideration of £4.3 billion (approximately HK$45.494 billion). Upon completion, the joint venture will become a wholly-owned subsidiary of Vodafone Group. The transaction values VodafoneThree at an enterprise value of approximately £138.5 billion.

Strategic Rationale and Financial Impact

The Group expects to realize a disposal gain of approximately HK$4.7 billion from the sale. The proceeds will be utilized to further strengthen CK Hutchison’s balance sheet, increase cash reserves, and reduce consolidated net financial debt, providing the Group with enhanced flexibility for future strategic investments.

Management Commentary

“This transaction allows CK Hutchison to realize the significant value created through the successful merger of Three UK and Vodafone UK,” said Canning Fok, Deputy Chairman of CK Hutchison and Chairman of CKHGT. “Having pioneered the 3G market in 2000, we are proud to have helped build a market leader that now serves over 28 million customers. This exit at an attractive valuation delivers substantial returns for our shareholders.”

Regulatory Clearances

The completion of the transaction is subject to customary closing conditions, including regulatory approvals from relevant UK authorities and clearances under the National Security and Investment Act. The deal is anticipated to close in the second half of 2026.

Following the divestment, CK Hutchison will continue to maintain a strong presence in the European telecommunications sector through its operations in Italy, Austria, Sweden, Denmark, and Ireland.

About CK Hutchison Holdings Limited

Listed on The Stock Exchange of Hong Kong Limited, CK Hutchison Holdings Limited is a renowned multinational conglomerate committed to innovation and technology with businesses spanning ports, retail, infrastructure, and telecommunications.