0322 GMT - CK Hutchison's telecommunications business outlook looks positive, as it finalizes its U.K. operations' merger with Vodafone U.K., says Morningstar's Dan Baker in a note. The telecom division showed "decent growth" in 1H with underlying Ebitda gaining 7%, he says. The merger is likely to generate more than 700 million British pounds per year in synergies in the fifth year, CK Hutchison estimates. The deal should lift the valuation of CK Hutchison's telecom business, Baker writes. Morningstar therefore raises its fair value estimate on the company to HK$75 from HK$71, which also takes into account its higher fair value estimate for subsidiary CK Infrastructure. CK Hutchison shares gain 0.2% to HK$51.55. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

August 17, 2025 23:22 ET (03:22 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.