Hutchison Telecommunications in Spin-off of Hong Kong-based Subsidiary

Cleary Gottlieb represented Hutchison Telecommunications Hong Kong Holdings (“HTHK”) and its parent, Hutchison Telecommunications International Limited (“HTIL”), in the spin-off of HTHK by HTIL and the establishment of a sponsored American Depositary Share program for HTHK.

HTHK operates mobile and fixed-line telecommunications businesses in Hong Kong and Macau. Following the spin-off, HTIL continues to provide telecommunications services in Israel, Indonesia, Vietnam, Sri Lanka and Thailand. HTHK’s ordinary shares are listed on the Hong Kong Stock Exchange, and its ADS trade in the U.S. over-the-counter market. The spin-off closed on May 8.