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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (2141)	2/24/2001 8:04:43 PM
From: slacker711	Read Replies (1) \| Respond to of 46821

Thought this might be of interest...Hutchison projects break-even for 3G network by '05. Obviously, they are using slightly different numbers than Forrester Research (understatement!). totaltele.com Hutchison's H3G unveils Italian 3G plans By Steve Riseborough, Total Telecom 23 February 2001 Hong Kong-based conglomerate Hutchison Whampoa said on Thursday that it would spend 8,000bn Lire (US$3.74bn) by 2006 to develop its Italian 3G network. The figures represent the first investment projections released by Hutchison for a major European market. Hutchison currently holds 3G licenses in Italy, Sweden, Austria and the U.K. through wholly or majority-owned subsidiaries, but has not yet revealed its spending plans for the U.K., potentially the jewel in its crown. The figures released by H3G in a statement do not appear to tally with those stated in a Financial Times report on Friday, which said that the company would spend $5.26bn by 2005 and twice that amount by 2010. Nevertheless, the investment is significant in a tough climate where analysts say mobile operators will pay the price for over-spending on 3G licenses and underestimating the cost of network build-outs. Hutchison appears to be bucking this trend with bullish projections and a seemingly bottomless pit of cash. The FT said H3G may opt for an IPO some time in 2002 but that the company insists it does not need the cash, already promised 4 to 4.5bn in project financing from an unnamed source. The firm's ambitious target is to have 1.5m customers by the end of 2003, a quarter of the projected 3G market, and to break even by the end of 2005, according to the FT. H3G said it will be able to guarantee a high quality service from day one, with data speeds of up to 384 kilobits per second in main metropolitan areas, and will be able to reach 72% of the Italian population initially, rising to 97% by 2005. Representatives of the Italian firm were not available for comment.