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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 166.84+2.2%11:19 AM EST
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To: foundation who wrote (33258)3/11/2003 7:25:31 AM
From: foundation  Read Replies (2) of 196742
 
Network Sale Failing To Attract Buyers

(11/03/2003, BWCS Staff) Following its rescue from bankruptcy last year, MobilCom in Germany is again facing a crisis having failed to find a buyer for its 3G mobile infrastructure. The half-finished network has not attracted any bidders, according to the Financial Times, which cites sources at the German mobile operator.

MobilCom has been hawking its 3G assets around Europe recently. However, having found no willing investors, it had reportedly been talking to potential buyers in the US and Asia. The company had set Friday 14th March as a deadline for receiving bids. Even E-Plus, its fellow German mobile operator has not yet put down a promised offer.

According to the FT only three mobile operators had requested further details on the proposed sale of some 900 3G base stations. The German wing of the UK operator O2 and E-Plus alone had completed a technical assessment of the network. MobilCom said it does not expect a combined offer from the two companies, nor does it expect to be able to sell its 3G licence for which it paid euros 8 billion in August 2000.

bwcs.com

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