IN a deal worth close to $300 million, Li Ka-shing and his Hutchison Whampoa group have scored a 10 per cent bonus on the sale of their holding in STAR TV to media giant News Corp.
Yesterday, they announced that they had sold off all the News Corp shares they took as part payment for a 63.6 per cent holding in STAR TV less than three weeks ago.
Thanks to the rise in the price of News Corp since the deal, sources say the share sale added about $100 million apiece to the total amount received by the group and Mr Li.
Hutchison television offshoot HutchVision and Mr Li's personal interests were equal partners in STAR TV, and sold control to the Rupert Murdoch-run newspaper, television and film giant.
As news of the sale spread, Hutchison Whampoa shares jumped 80 cents to $22.40 yesterday.
News Corp paid US$525 million (HK$4.07 billion) for its holding in STAR TV, with half paid in cash and half in shares.
