LONDON (Brand Republic) – Hutchison Whampoa and NTT are believed to be making a joint bid for Australia’s second mobile phone operator, Cable & Wireless Optus.
The company’s current market capitalisation suggests that Hutchison and NTT may pay as much as HK$38bn (£3.3bn). It is not yet clear whether Hutchison is bidding with NTT or one of its units, such as NTT DoCoMo.
Cable & Wireless owns a 52% stake in Optus. It has said its shareholding structure has been discussed. Optus expects revenue growth of double figures