Hutchison Telecom International's Sri Lanka unit will stay with the group, with new investments planned to increase coverage, while the parent is being de-listed from the Hong Kong stock exchange, an official said.
Hutchison Whampoa, the ultimate parent of the group, has made a general offer to Hutchison Telecom International to buy them out at US$545 million and go private. Conglomerate Hutchison Whampoa is owned by Li Ka-shing, one of Asia's richest men.
"Hutchison Telecommunications has no plans of selling their Sri Lankan operations to anyone else," a senior official at Sri Lanka's Hutch said on condition of anonymity. (Market Trading)