Goldman Sachs: Cheung Kong (00001.HK) selling 49% stake in Vodafone Three expected to increase benchmark profit by 7%

According to the Wisdom Finance APP, Goldman Sachs released a research report stating that CK Hutchison Holdings Limited (00001.HK) announced yesterday (5th) that it had agreed to sell its 49% stake in Vodafone Three, its telecommunications business in the UK, to its partner Vodafone for 4.3 billion pounds in cash. The transaction is subject to regulatory approval and is expected to be completed in the second half of this year. The bank believes that this move is not surprising, but the timing of the sale is earlier than expected, which may reflect Vodafone management's confidence in the prospects of the UK market.