Egypt’s Orascom Telecom Holdings has sold its 14.2 per cent stake in Hutchison Telecommunications International Limited (HTIL) to HTIL’s parent company Hutchison Whampoa (9.22 per cent) as well as to Li Ka-Shing (4.98), chairman of HTIL, for $962 million. As a result of the transaction, Hutchison Whampoa’s total stake in HTIL has increased to 59.33 per cent. Prior to this, the Egyptbased telecom service provider sold 2 per cent stake in HTIL for $130 million, bringing down its interest from 16.2 per cent to 14.2 per cent. Earlier, in October 2007, Orascom sold 3 per cent stake in HTIL for about $195 million.
