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<Research>UBS Upbeat on CKH Unlocking Value through Asset Sales
Recommend 8 Positive 24 Negative 6 |
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A UBS research report cited news indicating that CKH HOLDINGS (00001.HK) is in discussions with Liberty Global to sell its Irish telecom operator, Three Ireland. In 2024, Three Ireland contributed approximately HKD1.5 billion in EBITDA, accounting for 6% of CKH's telecom business EBITDA; under the IFRS, it accounted for 1.4% of the group's total EBITDA. Assuming a 6.5x EV/EBITDA, Three Ireland could be valued as high as HKD8.5 billion, equivalent to 3.6% of CKH's market cap. Any progress could enhance market expectations for CKH to engage in M&A transactions in other operational markets. The broker maintained a Buy rating on CKH, optimistic about its potential to unlock value through asset sales, with a target price of HKD67. AASTOCKS Financial News Website: www.aastocks.com |
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