Li Ka-shing News
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The mouthpiece newspaper of China`s Communist Party has blasted Hong Kong tycoon Li Ka-shing as "ungrateful" for selling assets on the mainland with the world`s second-largest economy facing headwinds.
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Conglomerate Hutchison Whampoa Ltd, controlled by tycoon Li Ka-shing, confirmed on Thursday it is in talks with Russian telecoms group VimpelCom Ltd about a possible merger of their Italian mobile businesses.
Spain`s Telefonica said it had finalised a deal to sell its British mobile business O2 to Li Ka-shing`s Hutchison Whampoa for 10.25 billion pounds ($15.2 billion), confirming details announced earlier this year.
The proposed deal comes close on the heels of the biggest business restructuring undertaken by Li`s empire earlier this month.
A property flagship led by Asia's richest tycoon Li Ka-shing said on Wednesday it plans to buy up to 60 passenger jets in a series of transactions that amount to more than $2.5 billion.
Li is reaching out to the sector as premium airlines cut costs amid fierce competition from a growing number of budget carriers in Asia.
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