Hutchison Global Communications (HGC) was a major investor in the
fibre-optic networks of Hong Kong. HGC became a
joint venture of
Hutchison Whampoa and
Global Crossing from 2000 to 2002. In 2004, a Bermuda incorporated, Hong Kong listed company, acquired HGC as part of a
backdoor listing. The Bermuda company was renamed into
Hutchison Global Communications Holdings (former ticker symbol SEHK:757). However, it was privatized by
Hutchison Telecommunications International (a listed company of Cheung Kong–Hutchison group) in 2005. A scandal was also exposed in the same year, which Vanda Systems & Communications Holdings, already an associate company of the mega-conglomerate
Cheung Kong Holdings–
Hutchison Whampoa in 2000, was involved in
insider trading. In 2009 another listed company
Hutchison Telecommunications Hong Kong Holdings was formed by the spin-off of some assets of Hutchison Telecommunications International, floating Hutchison Global Communications and
Macau sister companies as a separate listed company. After the ultimate listed parent companies of the group, Cheung Kong and Hutchison merged to form
CK Hutchison Holdings and
CK Asset Holdings in 2015, HGC was sold to independent third parties Asia Cube Global in July 2017.
Financial Times described the disinvestment was "come after several similar divestments by tycoon families in Hong Kong." ==References==