CK Hutchison to sell VodafoneThree stake for $5.8bn

Business deals Hong Kong conglomerate boosts cash reserves to pursue acquisitions CK Hutchison Group Telecom’s announcement that it is exiting from VodafoneThree comes three months after its parent said it has agreed to sell its entire stake in UK Power Networks. (CK Hutchison website) HONG KONG — A unit of the CK Hutchison group said Tuesday it will sell its entire stake in U.K. phone operator VodafoneThree for 4.3 billion pounds ($5.8 billion) as the Hong Kong conglomerate builds its cash reserves.