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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (27298)	9/30/2002 9:32:10 AM
From: foundation	Respond to of 196634

Hutchison says not interested in MobilCom stake Reuters, Sep 30 2002 HONG KONG, Sept 30 (Reuters) - Hong Kong-based conglomerate Hutchison Whampoa Ltd <0013.HK> said on Monday it had no interest in taking a stake in struggling German telecoms firm MobilCom AG <MOBG.DE>. "We reiterate that we do not have interest in MobilCom," Hutchison spokeswoman Nora Yong told Reuters. Financial Times Deutschland said on Monday that the Hong Kong company, controlled by Asia's richest businessman Li Ka-shing, was examining taking a stake in MobilCom. MobilCom said last week it was shedding well over a third of its workforce and freezing its planned rollout of new generation (3G) mobile phone services as part of a restructuring plan aimed at saving the company's core operations. MobilCom came close to insolvency earlier this month after partner France Telecom <FTE.PA> cut off vital funding following a dispute with the German company's founder Gerhard Schmid. industryclick.com ========== Hutchison seeks part of MobilCom 09:29 Monday September 30, 2002, Telecom.paper Hutchison Whampoa is examing a participation in MobilCom. The first talks have been held, according to sources within the company, reports the Financial Times Deutschland. CEO Thorsten Grenz to the Financial Times Deutschland said: "Hutchison Whampoa belongs to those companies who follow the development of MobilCom, but we cannot talk to a partner before we finish our reorganisation and have clear view of our debt." For Hutchison could acquiring a stake in MobilCom, become a cheap way to enter the German UMTS market. The competitors, debitel and Talkline are also interested in MobilCom, but just the core business selling of call minutes and not the UMTS license, reports the Financial Times Deutschland. telecom.paper.nl