Law Offices Of Howard G. Smith Announces Investigation On Behalf Of Shareholders Of Hutchison Telecommunications International Limited
Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Hutchison Telecommunications International Limited (“Hutchison Telecom” or the “Company”) (NYSE:HTX) related to a privatization proposal from the Company’s controlling shareholder and Hutchison Whampoa Limited (“HWL”). The proposed transaction is valued at approximately $545 million.
Under the terms of HWL’s proposal, each share of Hong Kong-based Hutchison Telecom held by the Company’s shareholders, other than those shares which are wholly owned by HWL, on a record date to be announced will be canceled in exchange for HK$2.20 in cash. Holders of Hutchison Telecom American Depositary Shares (“ADS”) will receive the U.S. dollar equivalent of HK$33.00 in cash, before fees and taxes, for each Hutchison Telecom ADS. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the Hutchison Telecom board of directors.
If you own shares of Hutchison Telecom, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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