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CK Hutchison cancels sale of Italian network infrastructure to EQT
The deal was called off after conditions were not met.
CK Hutchison called off the sale of a majority stake in its Italian network infrastructure portfolio to Sweden's EQT.
The company said that the termination of the deal was because “conditions precedent to closing of the Transaction were not satisfied.”
As announced in May 2023, the proposed deal for the joint venture was worth $5.04b (US$3.74b), with EQT taking a 60% stake.
Both parties agreed to scrap the deal.
EQT said in a statement that it “will continue to explore alternative infrastructure transactions, including with CK Hutchison should the appropriate opportunity arise."
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