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Pastimes : The New Qualcomm - write what you like thread.

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To: S100 who wrote (2142)	9/21/2000 7:44:41 PM
From: S100	Read Replies (2) of 12247

Germany to use phone windfall By Haig Simonian in Berlin Published: September 21 2000 19:12GMT \| Last Updated: September 21 2000 21:45GMT Germany on Thursday became Europe's first country to earmark a large chunk of windfall gains from third generation mobile telephone licences for infrastructure with an ambitious investment plan for its crumbling rail network. The decision to spend up to DM40bn (E20.5bn, $17.7bn) modernising rail track to boost freight and attract more passengers was seen as particularly timely against the background of steadily rising petrol prices. The government is expected to announce measures in the next few days to ease the financial burden on long-distance commuters from the sharp increase in oil prices and encourage the use of rail transport. Thursday's agreement to boost rail investment by between DM2bn and DM2.5bn annually for the next 10 to 15 years means about half the government's expected DM5bn a year saving in debt servicing costs through the auction of third generation UMTS mobile phone frequencies will be allocated to the railways. Last month's UMTS auction raised almost DM100bn. Although ministers have stuck to their decision to allocate the proceeds to pay the government's massive DM1,500bn debt, they agreed the associated interest savings would go to infrastructure investment, research and education. Snip news.ft.com.

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