Hutchison finalises unit buy

Hutchison Whampoa has completed the acquisition of Motorola's stake in mobile phone company Hutchison Telephone. The US$120 million deal will see Hutchison increase its stake in Hutchison Telephone to 81 per cent. It will grant a right, to expire in 57 days, to its strategic shareholder NTT DoCoMo to acquire another 6.37 per cent of Hutchison Telephone for US$30.44 million. On exercising the option, Hutchison's stake will fall to 74.63 per cent.