BTC. HONG KONG.
THU 23 SEP 93 11:50
PG.02
CONFIDENTIAL
5.
But Li's main pre-occupation was his plans for investment
He said that his experience and dis-investment in Britain.
So much so, that he was If that went through, he But he did
with the port of Felixstowe was good. now in negotiation to buy Thamesport. would own some 50% of Britain's container capacity. not want to fall foul of the MMC and asked me if I could let him have a steer. I should be most grateful for advice from Catherine Bell. I imagine a great deal of information is available in London, but if you want more from here, please ask.
The bad news concerned Hutchison 6. That was the good news. Telecommunications. His management has really let him down by They have got it forecasting a positive future for Hutchison. hopelessly wrong (this throws more light on Simon Murray' s recent departure as Managing Director of Hutchison Whampoa).
He mentioned two particulars: Now Li needed to get out fast.
Here it was not clear to me whether a) Hutchison Mobile Data. he had found or was still looking for a purchaser.
b) Hutchison's CT2 business (the Rabbit Project) which had failed miserably to take off.
He had put £120 million into this and would be prepared to countenance a sale which gave him 10%
He wanted the banks to or even just 5% of the original cost.. hold back until he had found a purchaser.
7. If there is any background which I need to know or which I can usefully feed back to Li, I would be very grateful to have it.
8. Li said that he was anxious to get the timing right so that the Thamesport deal went some way to balance the bad news over Mobile Data/CT2.
9. I would like to go back to Li fairly soon on these points. He was quite forthcoming (though I accept that there may be a
We need to be forthcoming in great deal more he did not say). response.
Cc:
Dr Catherine Bell,
yu
ба
eve
Francis Cornish
Competition Policy Division,
DTI, Ashdown House
Peter Corley,
Regional Development and Inward Investment Division,
DTI, Kingsgate House
David Hall, PEP, DTI
CONFI DENTI AL
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