On May 5th, the Cheung Kong Group, under the Li Ka-shing family, announced the agreement to sell all its equity stake in the UK telecom business Vodafone Three, for a cash-out of £4.3 billion (equivalent to HK$45.494 billion). This marks the third sale of their UK business this year.
The announcement, titled “Framework Agreement on the Ownership of Vodafone Three 49% Stake by Hutchison,” was released on May 5th. It stated that on May 5, 2026, all parties reached a framework agreement, with their wholly-owned subsidiary CK Hutchison Group Telecom Holdings Limited (CKHGT) agreeing to sell its entire equity stake in the UK telecom business Vodafone Three. This sale of the 49% stake yielded £4.3 billion (approximately HK$45.494 billion).
The announcement mentioned that the operation aims to “strengthen the financial position of the group – by increasing cash reserves and reducing net comprehensive financial liabilities, thereby enhancing overall liquidity and financial stability, while also aligning with the current credit ratings of the group.”
According to the announcement, CKHGT holds a 49% stake in Vodafone Three, while Vodafone Group Plc holds the remaining 51% stake.
Following the news, the Cheung Kong stock price saw a sharp rise before retracting slightly. The closing price was HK$68 per share, marking a 4.13% increase and resulting in a new total market value of HK$260.4 billion.
Public records show that this transaction is the third sale of UK business by companies under the Li Ka-shing family this year.
In January 2026, the Cheung Kong Group (led by CK Infrastructure) completed the sale of the entire equity of UK Rails (Eversholt Rail), a UK railway vehicle leasing company. The deal was approved by the UK Competition and Markets Authority, with the buyer being the European railway vehicle leasing company Beacon.
On February 26th, the Cheung Kong Group issued a joint announcement that several companies controlled by the Li Ka-shing family – CK Infrastructure, Cheung Kong Group, Power Assets, and Cheung Kong Holdings – had agreed to sell all their shares in the UK e-commerce firm UK Power Networks to French energy company Engie for £10.5 billion. The related transactions were approved by a large majority at the shareholder’s special meeting held on April 27th.
According to reports in Hong Kong media, it is estimated that the total return from this 16-year-old transaction exceeds six times the initial investment.
Regarding external views that Li Ka-shing is continually shrinking their investments in the UK and withdrawing from the country, the Cheung Kong Group did not provide a direct response.