Moody's: Hutchison unaffected

Moody's Investors Service said the proposed €780 million acquisition of O2 Ireland by Three Ireland, an indirect 100%-owned subsidiary of Hutchison Whampoa Ltd. (A3/stable), has no impact on Hutchison Whampoa's ratings.

"The acquisition has limited impact on HWL's credit metrics as the amount involved is relatively small compared to the group's total assets of over HK$800 billion," Laura Acres, a Moody's senior vice president, said in an agency news release.

"We expect a significant portion of the transaction to be funded by HWL's cash on hand and undrawn banking facilities but note that the final form of funding is yet to be decided and as such we will continue to monitor the transaction carefully."

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