CK Hutchison : HTHKH to sell 100% interest in HGC to Asia Cube Global Communications Limited

Press release

HTHKH to sell 100% interest in HGC

to Asia Cube Global Communications Limited

Hong Kong, 30 July 2017 -

Hutchison

Telecommunications

Hong Kong Holdings Limited

("HTHKH" or "the Company"; st

ck code:

215) announced today that it has signed

a sale and

purchase agreement to sell its

ntire shareholding interest in Hutchison Global Communications

Investment Holding Limited ("HGC"), together with an associated shareholder loan, to Asia Cube Global Communications Limited (the "Purchaser"), a company wholly-owned by a fund managed by I Squared Capital, for a total consideration of approximately HKD 14.5 billion.

The transaction will enable HTHKH to focus its resources more effectively on its core business of providing mobile services to its customers. Furthermore, HTHKH believes the transaction will create

value for its shareholders by unlocking the value of HGC, which has not

been fully reflected in

HTHKH's share price

in recent

years. Through the transaction

HTHKH will receive

substantial

proceeds,

which will

enable HTHKH to continue to

invest and strengthen its leading market

position in the mobile business.

The HGC Group will remain a key supplier of fixed-line services to

HTHKH, and the two companies intend following the completion of the transaction.

to maintain a cooperative commercial

relationship

HTHKH intends to use the net

proceeds

from the

transaction

for its general working capital

purposes and investment in the mobile business.

Commenting on the transaction, HTHKH Chairman Canning Fok said: "The transaction represents an excellent opportunity to crystallise value for the Company and its shareholders. The Company will utilise the proceeds efficiently to continue growing its mobile business."

Completion

is subject to the approval of

the transaction by

the shareholders of

HTHKH. CK

Hutchison Holdings Limited, which has an interest in approximately 66.09% of the issued HTHKH

shares, has undertaken to HTHKH to procure that such shares

will be voted in favour of the

resolution to approve the transaction at an extraordinary general meeting of the shareholders of

HTHKH to be convened. It is expected that the transaction will be completed in or aro

nd October

2017. Upon completion of the transaction, HGC will no longer be a subsidiary of HTHKH and the

financials

of the HGC

Group will cease to

be consolidated int

HTHKH's

consolidated financial

statements.

Deutsche

Bank AG, Hong Kong

Branch and Goldman Sachs (Asia) L.L.C.

acted as the financial

advisors for HTHKH on this transaction.

For more details, please refer to our announcement published on the websites of HTHKH and The Hong Kong Stock Exchange.

- Ends -

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About Hutchison Telecommunications Hong Kong Holdings Limited

Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH, or the Group; stock code: 215)

is a leading telecommunications operator that combines the str

ngths of mobile, fixed and Wi-Fi

networks. Advanced mobile communications are provided in Hong Kong and Macau under the "3"

brand, while fixed-line resident al broadband, telephone and IDD services

are offered in Hong

Kong as part of the "3Home Broadband" stable of offerings. The Group also provides local and

international customers with sophisticated

fixed-line

services, corporate

solutions,

data centre

capabilities, cloud computing and high-speed Wi-Fi

services under the HGC brand. HTHKH is a

member of the CK Hutchison Holdings group (stock code: 1) and channels the latest t

chnologies

into innovations that set market trends and steer industry develo

ment.

For more information on HTHKH, please visit www.hthkh.com. For 3 Hong Kong mobile services, please visit www.three.com.hk. For 3 Macau mobile services, please visit www.three.com.mo.

For HGC fixed-line services, please visit www.hgc.com.hk.

About HGC Group

The HGC Group is a leading fixed-line operator, IT service provider, carrier's carrier and one of Hong

Kong's largest-scale

Wi-Fi service providers. The HGC Group

empowers local and overseas

customers with one-stop international, carrier, corporate, data centre and residential broadband services. The HGC Group owns and runs an extensive optical-fibre network, coupled with four cross- border routes integrated with three of mainland China's tier-one telecoms operators, plus a world- class international network. The HGC Group is committed to developing cloud computing services

and offering high-speed Wi-Fi

service under the "HGC On Air" brand. HGC is a subsidiary of

Hutchison Telecommunications Hong Kong Holdings Limited (stock code: 215), a group member of CK Hutchison Holdings (stock code: 1).

About Asia Cube Global Communications Limited

Asia Cube

Global Communications Limited

is a company wholly-owned by funds managed by

I Squared Capital. I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in the North America, Europe, and select high growth

economies. The Firm Singapore.

has offices in New

York, Houston, London, New Delhi, Hong

Kong and

For enquiries, please contact:

Corporate Affairs Frances Ng / Ada Yeung

Tel: 2128 6739 / 2128 3108

frances.ng@hthk.com / ada.yeung@hthk.com

Investor Relations Joe Tong

Tel: 2128 6828

joe.tong@hthk.com

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