--- title: "香港首富李嘉诚的长和以 58 亿美元退出与沃达丰的合资企业" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/285485715.md" description: "长和（CK Hutchison）由亿万富翁李嘉诚领导，正在以 58 亿美元的价格将其在沃达丰三（VodafoneThree）中的股份出售给沃达丰集团（Vodafone Group）。这一交易比预期提前，将增强沃达丰在英国的数字基础设施。长和的股价上涨超过 4%，而沃达丰的股票上涨了 2%。该交易将增加沃达丰的净债务比率，但分析师对此持积极看法。该交易尚待英国监管机构的批准，预计将在 2026 年下半年完成" datetime: "2026-05-07T04:57:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285485715.md) - [en](https://longbridge.com/en/news/285485715.md) - [zh-HK](https://longbridge.com/zh-HK/news/285485715.md) --- # 香港首富李嘉诚的长和以 58 亿美元退出与沃达丰的合资企业 VodafoneThree is currently owned 51% by Britain's Vodafone Group, which has agreed to buy the stake for 4.3 billion pounds (US$5.8 billion), and 49% by Hong Kong-based conglomerate CK Hutchison Group Telecom Holdings, the companies said on Tuesday. Shares of CK Hutchison were up more than 4%, hitting their highest level in over six years, while Vodafone stock rose 2% to the highest since August 2022. Billionaire Li Ka Shing in 2018. Photo by Reuters The joint venture combined Vodafone's British unit with Hutchison's Three, leapfrogging rivals ⁠BT's EE and O2, owned by Telefonica and Liberty Global, to become market leader. **'Right time' is sooner than expected** Vodafone had an option to take full ownership three years after completion, but the deal has come sooner than expected. "We believe now is the right time to take full ownership of VodafoneThree, enabling us to move at an even faster pace to transform the UK's digital infrastructure and realise value for our shareholders," Chief Executive Margherita Della Valle said. Analysts at Barclays said the deal was earlier than anticipated but the price was attractive. Share buybacks would pause, they noted, but overall they viewed it positively. VodafoneThree is investing 11 billion pounds in its network and is aiming to make 700 million pounds in savings by fiscal 2030. Max Taylor will continue to lead VodafoneThree, Vodafone said, and there will be no change to its ‌brands, which ⁠include Vodafone and Three. The deal is the latest step in Della Valle's strategy to focus on Vodafone's biggest markets, led by Britain and Germany. She has exited Spain and Italy and agreed in February to sell its 50% stake in Dutch joint venture VodafoneZiggo to Liberty Global for 1 billion euros (US$1.2 billion) and a 10% stake in a new entity. Vodafone's stock has risen 42% since she took over three years ago. The deal will increase Vodafone's net debt ⁠ratio by 0.4 times to around 2.6 times before the VodafoneZiggo contribution, although the group is targeting the bottom half of a 2.25-2.75 range. **Attractive valuation** CK Hutchison, controlled by Hong Kong's top billionaire, said the transaction would allow it to monetize its investment at an attractive valuation and generate substantial cash proceeds. The ⁠conglomerate continues to operate telecom businesses in Italy, Sweden, Denmark, Austria and Ireland, according to its website, and it holds a controlling stake in Hutchison Telecommunications Hong Kong Holdings, which provides services in Hong Kong and Macau. _Reuters_ reported in January that it was weighing listing its global telecoms business ⁠in London and Hong Kong as early as the third quarter after spinning it off, citing sources with direct knowledge of the matter. The deal is subject to UK National Security and Investment Act approval and is expected to be completed in the second half of 2026. ### 相关股票 - [VOD.UK](https://longbridge.com/zh-CN/quote/VOD.UK.md) - [00001.HK](https://longbridge.com/zh-CN/quote/00001.HK.md) - [CKHUY.US](https://longbridge.com/zh-CN/quote/CKHUY.US.md) - [VOD.US](https://longbridge.com/zh-CN/quote/VOD.US.md) - [TEF.US](https://longbridge.com/zh-CN/quote/TEF.US.md) - [VIV.US](https://longbridge.com/zh-CN/quote/VIV.US.md) - [LBTYA.US](https://longbridge.com/zh-CN/quote/LBTYA.US.md) - [BARC.UK](https://longbridge.com/zh-CN/quote/BARC.UK.md) - [00215.HK](https://longbridge.com/zh-CN/quote/00215.HK.md) - [TELFY.US](https://longbridge.com/zh-CN/quote/TELFY.US.md) - [LBTYB.US](https://longbridge.com/zh-CN/quote/LBTYB.US.md) - [LBTYK.US](https://longbridge.com/zh-CN/quote/LBTYK.US.md) - [BCS.US](https://longbridge.com/zh-CN/quote/BCS.US.md) ## 相关资讯与研究 - [美银证券：长和出售英国电讯业务增强财务灵活 维持 “买入” 评级](https://longbridge.com/zh-CN/news/285324299.md) - [李嘉诚全球清仓，香港首富这波操作，你看懂了吗？](https://longbridge.com/zh-CN/news/285515372.md) - [和记黄埔以 58 亿美元卖了沃达丰股份](https://longbridge.com/zh-CN/news/285181978.md) - [瑞银：长和售 VodafoneThree 股权 料提升资产净值 每股派息潜在上升](https://longbridge.com/zh-CN/news/285465177.md) - [直线拉升！套现约 455 亿港元，李嘉诚又卖了](https://longbridge.com/zh-CN/news/285247036.md)