New Street: Vodafone (Buy, 185p, +78%) Merger with Hutchison UK now looks likely. Our take on the news.
Vodafone and Hutchison have confirmed that they are in talks regarding a combination of their UK entities, with a 51/49 equity split respectively, which we think could be a significant step forward for Vodafone and an important part of our Buy case.CK Hutchison Holdings is an investment holding group based in Hong Kong. Co.'s businesses encompass such diverse areas as property development and investment, real estate agency and estate management, hotels, telecommunications and e-commerce, finance and investments, retail, ports and related services, energy, infrastructure projects and materials, media, and biotechnology. Co.'s core business are organized along four segments: Property (sales, leasing, property management and development); Hutchison Whampoa (ports, property and hotel, retail, infrastructure, energy and telecommunications); Life Sciences (health and agriculture related products) and Other Investments.
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