Hutchison Whampoa has reportedly not reached a final decision on the listing of 3 Italia, its third-generation mobile business in Italy, despite getting regulatory approval for the spin-off. The company is still aiming for an IPO this quarter although a decision has yet to be made depending on market conditions. Hutchison plans to sell 20-25 per cent of 3 Italia to test investor confidence in the growth potential of the technology. The listing was originally planned for last year but was delayed because Consob, the Italian financial regulator, did not clear it in time. 3 Italia has been valued at Euro 12 billion, which, according to analysts, is too high and should be revised to about Euro 8 billion.
