A global conglomerate like the CK Hutchison Group generates an astounding amount of data across industries. Data are the lifeblood of the AI revolution; it was inevitable that someone would ask “How can we harness the power of these data to power the future?”
The answer is CKDelta.
CK Hutchison Group Telecom (CKHGT) received approval of its near-term science-based greenhouse gas emissions reduction targets from the Science Based Targets initiative (SBTi). SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. CKHGT is committed to reducing its carbon footprint through actions such as sourcing more renewable energy, improving energy efficiency and working with suppliers to also reduce their carbon footprint in the supply chain. The process of continuous reduction of the company’s carbon output will include mapping out a plan for net-zero status by 2050.
The UK Competition and Markets Authority (CMA) has given CK Hutchison Group Telecom (CKHGT) permission to sell its UK tower assets to Cellnex for approximately €3.7 billion in cash and shares. Mr Canning Fok, CKHH Group Co-Managing Director says, “This deal unlocks value in our telecom assets to our shareholders, improves our operational efficiency and accelerates our 5G rollout, benefiting consumers across the UK. The UK towers are excellent assets and we now also have a terrific partner in the UK to help us take our network there to the next level.” The totality of the CKHGT-Cellnex agreement covers about €10 billion in tower assets in six countries and the sale of assets in five other countries (Austria, Denmark, Ireland, Italy and Sweden) has been completed.
CK Hutchison has agreed to sell its interests in its European tower assets and businesses to Cellnex Telecom for €10 billion in six transactions. These transactions will unlock the underlying value of its telecommunications division and realise a number of strategic and financial benefits for the Group, including acceleration in rolling out 5G across all of CK Hutchison Group Telecom’s networks as well as forming long-term ties with Cellnex that will serve the Group’s future passive infrastructure needs. Austria, Denmark and Ireland completed their transactions in December 2020 with the remaining countries looking to complete this year.
