BUZZ-Hutchison Telecommunications (Australia) rises to 8-1/2-month high on takeover offer

Reuters

05-22

BUZZ-Hutchison Telecommunications (Australia) rises to 8-1/2-month high on takeover offer

** Shares of Hutchison Telecommunications (Australia) HTA.AX rise as much as 57.1% to A$0.033, their highest levels since September 2, 2024

** Stock marks its biggest intraday pct gain since August 30, 2018

** The telecommunications firm says its majority shareholder Hutchison Telecommunications (Amsterdam) B.V., currently holding an 87.87% stake in co, has made an off-market takeover bid for all shares it does not own

** Offer at A$0.032 per HTA share, a 52.4% premium to last close

** About 607,075 shares change hands, 5x the 30-day average

** HTA stock up 14.3%, YTD

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))

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