citic securities·2026-01-21 08:12Investment Rating - The report does not explicitly provide an investment rating for the company [2]. Core Insights - The report highlights that CK Hutchison Holdings is in discussions with Liberty Global to sell its Irish telecommunications business for €1.5 billion, which may indicate a strategic move to exit a challenging telecommunications sector [4]. - Key catalysts for the company include asset disposals, large-scale share buybacks, and increased dividends [5]. - The company operates in various sectors including telecommunications, retail, infrastructure, and ports, with a workforce of over 300,000 employees across approximately 50 countries [7]. Company Overview - CK Hutchison Holdings is a diversified global enterprise with operations in telecommunications, retail, infrastructure, ports, and related services [7]. - The company is currently negotiating the sale of its 3 Ireland business, which had 4.94 million active customers and generated total revenue of €630 million in 2024, contributing 0.6% to the group's underlying EBIT [8]. - The average revenue per user (ARPU) for 3 Ireland was €7.78 in 2024, reflecting a 10% year-over-year decline [8]. Financial Information - As of January 19, 2026, the stock price was HKD 60.2, with a market capitalization of USD 28.07 billion [9]. - The market consensus target price is HKD 61.02 [9]. - Major shareholder includes Li Ka-shing with a 30.43% stake [9].