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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 (33232)	4/11/2003 11:03:41 AM
From: waitwatchwander	Respond to of 196718

DoCoMo extends loan to Hutchison 3 mobilecommerceworld.com 11/04/2003 NTT DoCoMo Inc, has agreed to extend a 200 million pound ($314.5 million) loan to Hutchison's fledgling '3' operations in the UK. According to a report from Reuters, the loan is part of a plan by 3G's three parents - DoCoMo, Hong Kong conglomerate Hutchison Whampoa Ltd and KPN Telecom of the Netherlands - to inject up to one billion pounds into it to convince banks to alter a key loan. DoCoMo officially said that no decision had been reached yet, but an internal source told a Reuters journalist that the deal was as good as signed. "DoCoMo is still considering this request, taking the shareholders' agreement into account, and has not yet made a decision," the Japanese company said in a statement. Hutchison 3G, who last month started Europe's first third-generation (3G) mobile phone service in Britain, is struggling after months of delays and handset shortages. The delay meant it was unable to meet projections made in a loan agreement reached in March 2001, bankers said. The British 3G venture wants its banks to extend the 2.235 billion pound loan underpinning the 3G venture - which matures in March 2004 - for a further year. It also wants to revise loan conditions because delays in launching the 3G service have affected revenue prospects. NTT DoCoMo owns a 20 percent stake in the 3G venture, and was therefore on the receiving end of a cash demand from its partner.