Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited Sell 8.9 Million Priceline.com Shares.NORWALK Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but , Conn. -- Priceline.com (priceline.com Incorporated, Norwalk, CT, www.priceline.com) A Web-based travel shopping site launched in 1998 where buyers submit the price they are willing to pay for airline tickets, hotel rooms, vacation packages and rental cars. Incorporated (Nasdaq: PCLN PCLN Priceline.com (stock abbreviation, AMEX) ) announced today that Hutchison Whampoa Hutchison Whampoa Limited or HWL (Traditional Chinese: 和記黃埔有限公司, HKSE: 0013 Limited and Cheung Kong Kong is the Danish word for king, but can also refer to the following:
The sale, which was completed today, represents approximately 70% of the approximately 12.7 million shares of priceline.com common stock owned by Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited prior to the sale. Hutchison Whampoa Limited and Cheung Kong (Holdings) Limited will continue to have the right to appoint representatives to priceline.com's Board of Directors. "Hutchison Whampoa and Cheung Kong Holdings have been priceline.com investors since 2001 and have supported our business through some difficult times, including the aftermath of September 11th," said priceline.com President and Chief Executive Officer Jeffery H. Boyd. "We are pleased that their investment and their support have been rewarded with a successful transaction." This press release is not an offer to sell any securities nor does it seek an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. |
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