LONDON: Some of the world’s biggest sovereign wealth funds are in talks to provide financial backing for Hutchison Whampoa’s acquisition of Telefonica’s British mobile business, the Telegraph newspaper reported, citing unidentified sources.
The £10bn ($15bn) move by Li Ka Shing’s Hutchison to merge its Three Mobile network with Telefonica’s O2 UK will make the group the top mobile operator in the country. The Telegraph said sovereign wealth funds including China Investment Corporation, Singapore’s Temasek and GIC, and one of Qatar’s big government-sponsored vehicles were in talks to provide a significant portion of the financing.Reuters
