CK Hutchison (HKG:0001) is unlikely to pursue a near-term listing of its global telecommunications business and is instead prioritizing the sale of individual assets, Reuters reported Friday, citing three people familiar with the matter.

The Hong Kong conglomerate had explored spinning off the unit for a potential listing in London or Hong Kong as early as the third quarter, according to the report.

However, prospects for the listing have reportedly dimmed after the company agreed earlier this month to dispose of its 49% interest in a U.K. telecom venture with Vodafone.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)