re: Hutchinson UK 3G award to Nokia (and NEC)
>> Hutchison Taps Nokia and NEC for 3G Network Gear in Britain
02 April 2001
Reuters
Hutchison Whampoa Ltd said on Monday it tapped Finnish telecoms gear giant Nokia to supply core network equipment for its 65-percent-owned 3G mobile phone venture in the United Kingdom.
Hutchison also said on Monday it completed a financing package worth 3.6 billion pounds that will allow the venture to be fully funded beyond its service launch, which the company has targeted for 2002.
Hutchison said Nokia will supply core network equipment, while both Nokia and Japan's NEC Corp will supply gear for the radio access network.
Terms of the deals were not disclosed.
Hutchison said in a February that its share of capital expenditure for the U.K. 3G network through 2005 would be about 2 billion pounds (US$2.82 billion), which would put the total expense for that period at roughly 3.1 billion pounds.
Buildout expenses beyond that could top 1 billion pounds, company-watchers have said.
As for the network financing, Hutchison said 777 billion pounds of the total comes from vendors, while Hutchison Whampoa itself has committed to provide a credit facility worth 375 million pounds.
Hutchison 3G UK Ltd is 65 percent owned by the Hong Kong conglomerate controlled by billionaire tycoon Li Ka-shing. Japan's NTT DoCoMo and Dutch carrier KPN Mobile hold the remainder. <<
and ...
HK Hutchison 3G UK Completes 3G Financing Package
02 April 2001
Dow Jones
Hutchison 3G UK, a unit of Hutchison Whampoa has completed a GBP3.6 billion financing package enabling it to be fully funded beyond the launch of its 3G services in the U.K..
According to an announcement from the parent, which has a 65% stake in the U.K. unit, Hutchison has committed to a credit facility of GPB375 million as part of the financing package. It will announce further details Tuesday.
On the same day as completion of the financing deal, March 30, Hutchison 3G UK Ltd. entered into a network equipment supply contract with Nokia Corp. , for the core network, and with NEC Corp. and Nokia jointly, for the radio access network. <<
- Eric - |
