(MENAFN) Singapore GIC said it is tying up with four other companies to invest USD4.8 billion for a 33 percent stake in Hutchison Whampoa's British mobile telecom business, Oman Observer reported.
The five firms, including the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board and Brazilian investment bank BTG Pactual, will take a one-third stake in British telcos Three and O2.
Hutchison Whampoa, the conglomerate controlled by Hong Kong billionaire Li Ka-shing, finalized a deal in March to buy British telecom giant O2 from Spain's Telefonica for USD15.2 billion.
"Investment is conditional on and will occur concurrently with the completion of Three UK's acquisition of O2 UK and the combination of both businesses, which are subject to EU regulatory approvals," GIC said.
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