Hutchison Whampoa is looking to raise $3 billion from the Milan listing of its Italian 3G mobile business. The sale of 20 to 25 per cent stake in 3 Italia has been valued at between Euro 1.8 billion and Euro 2.5 billion. The proposed range is higher than original analyst expectations for an initial public offering. Analysts had earlier predicted a range of Euro 1-Euro 1.5 billion. The listing of 3 Italia ?? the first ever by a 3G mobile phone business ?? will set a benchmark for other 3G operators and could pave the way for a spin-off of Hutchison’s 3G operations in the UK next year. 3 Italia has about 4.5 million customers.
