Hong Kong-based conglomerate Hutchison Whampoa Limited has sold down its holding in Asia Satellite Telecommunications Holdings Limited (AsiaSat), a provider of satellite transponder capacity, to just 11.49% following the disposal of two 5.75% stakes to Cable & Wireless Plc and China International Trust and Investment Corp, raising both purchasing company’s holdings to 28.73%. The stakes were sold for cash consideration of $59.3m each. AsiaSat is listed in both the Hong Kong and New York stock exchanges.
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