Egypt’s Orascom Telecom has sold 3 per cent stake in Hutchison Telecommunications International Limited (HTIL) for HK$1.53 billion at a share price of HK$10.70. This has reduced Orascom’s stake in HTIL from 19.3 per cent to 16.3 per cent. The sale is part of Orascom’s strategy to monetise some of its stake in HTIL while retaining corporate governance rights.
