Hutchison Telecommunications International Ltd. (2332.HK) plans to spin off its Hong Kong fixed-line and mobile phone businesses in an initial public offering later this year that could raise as much as HK$2 billion, the South China Morning Post reported Monday, citing unnamed sources.

The report said Goldman Sachs Group Inc. (GS) was hired to arrange the deal.

Hutchison Telecom operates mobile and fixed-line telecom services in Hong Kong, and mobile services in Macau, Israel, Thailand, Sri Lanka, Ghana, Indonesia and Vietnam.

Newspaper Web site: http://www.scmp.com

-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com