FOR IMMEDIATE RELEASE
HONG KONG, 9 May 2005 - Hutchison Telecommunications International Limited ("Hutchison Telecom"; SEHK: 2332, NYSE: HTX) today announced the intended sale of its mobile operations in Paraguay to Mexico's America Movil S.A. (NYSE: AMX) for an undisclosed amount.
Hutchison Telecom Paraguay operates a GSM network that covers all the major cities and towns in Paraguay.
Dennis Lui, Chief Executive Officer of Hutchison Telecom, said: "One of our strategies is to exit markets where we do not have ambitions for growth. The sale of the Paraguay operations is part of this strategy."
The sale is subject to regulatory approval and other conditions and is expected to be completed during the third quarter of the year.
For further information, please contact:
Citigate Dewe Rogerson
Bruce Shu | Jasmine Yap |
Tel: 2533 4607 | Tel: 2533 4641 |
Mobile: 9132 2906 | Mobile: 9325 3363 |
Email: bruce.shu@citigatedr-hk.com | Email: jasmine.yap@citigatedr-hk.com |
Note to Editors:
Hutchison Telecommunications International Limited ("Hutchison Telecom") is a leading global provider of telecommunications services. The Company's business is currently in nine markets around the world.
Hutchison Telecom currently operates mobile and fixed telecom services in Hong Kong and mobile services in Macau, India, Israel, Thailand, Paraguay, Sri Lanka and Ghana. It expects to launch mobile services in Vietnam later this year. Hutchison Telecom was the first provider of 3G mobile services in Hong Kong, where it also provides broadband fixed-line services. Hutchison Telecom operates common brands across its business including "Hutch", "3" and "Orange." Hutchison Telecom is a listed company whose American depositary shares are quoted on the New York Stock Exchange under the symbol "HTX" and shares are listed on the Hong Kong Stock Exchange under the stock code "2332".
A subsidiary of the Hong Kong-based Hutchison Whampoa Group, Hutchison Telecom is dedicated to providing superior telecommunications services in markets with high growth potential. For more information, please visit www.htil.com.
Forward-looking statements:
This press release contains forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks, uncertainties and assumptions. The Company cautions you that if these risks or uncertainties ever materialise or the assumptions prove incorrect, or if a number of important factors occur or do not occur, the Company's actual results may differ materially from those expressed or implied in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from the Company's forward-looking statements can be found in the Company's filings with the United States Securities and Exchange Commission.