Hutchison Telecommunications International Ltd. (HTIL), a Hutchison Whampoa unit seeking an IPO worth up to $1.1 billion, said on Wednesday it plans to spin off its India mobile operations by June 2005.The Hong Kong-based telecom firm told a news conference it intended to float 10 per cent of its India unit, the minimum required by the Securities and Exchange Board of India, in an initial public offering split between global institutions and India’s local retail investors.‘‘We are doing this IPO because of our commitment to our Indian partners,’’ chief executive officer Dennis Lui told reporters. Analysts have valued the India business at $3 billion, which means the India IPO could worth $300 million.The separate listing of the fast-growing India business, regarded as the most attractive holding in HTIL, has dampened investors’ interest in HTIL. ‘‘There’s still a lot of hurdles we have to go through in terms of regulatory approving processes,’’ Lui said, stressing there were uncertainties as to the timing of the India listing.
