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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 170.90-1.3%Nov 7 9:30 AM EST
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To: foundation who wrote (31642)1/24/2003 7:23:00 AM
From: foundation  Read Replies (2) of 196568
 
MobilCom CEO says has to find buyer for UMTS network by end-March

AFX.COM
January 24, 2003
FRANKFURT

MobilCom AG chairman Thorsten Grenz said the company needs to find a buyer
for its 3G UMTS network in Germany by the end of March.

Speaking in an interview with Handelsblatt, Grenz said: "If we haven't found an
investor by the end of March, we will have to tear it down."

The network includes around 900 base stations, the paper said.

The company was forced to freeze its 3G ambitions after its sole source of
funding France Telecom SA pulled the plug last year, sending it close to
insolvency.

Only after a government-backed rescue plan, was the Germany company
allowed to continue operating, but it was forced to put its 3G roll-out on hold and
focus on its core 2G reselling operations in order to do so.

Under the terms of the rescue package France Telecom is due to receive 90 pct
of the proceeds from any sale.

Royal KPN NV was reported last year to be interested in acquiring the network.

For more information and to contact AFX: www.afxnews.com and
www.afxpress.com

==========

Wanna buy 900 wCDMA cell stations --- cheap?

LOL!
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