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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1870)8/22/2001 12:57:30 PM
From: ms.smartest.person  Read Replies (1) of 2248
 
HWL Aussie unit: funding talk for JV w/ NZT smooth

2001-08-22 18:02

(Infocast News) Hutchison Telecommunications (Australia), a subsidiary of Hutchison Whampoa (0013), has got the go-ahead in the EGM on the alliance with New Zealand Telecom to develop 3G mobile business.

Both parties announced in May to form a joint venture, Hutchison 3G Australia, to expand into the 3G mobile phone market of Australia. Hutchison Telecom (Australia) will invest A$600 million in the JV while NZT will invest another A$400 million.

Barry Roberts-Thomson, managing director of Hutchison, said that negotiations with bankers for financing the alliance are progressing well. The final funding package may include debt and equity.


infocastfn.com
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