Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Labrador who wrote (30363)	5/19/1999 5:03:00 PM
From: Ruffian	Respond to of 152472

Hutchinson> Hutchison to Offer New Phone Service Ne by: nbfm 20666 of 20667 Hutchison to Offer New Phone Service Next Year, Share Sale Sydney, May 19 (Bloomberg) -- Hutchison Telecommunications Australia, which is expected to soon undertake a share sale, will offer a new cellular service next year that will offer consumers cheaper prices in the nation's local calls market, now dominated by No. 1 ranked Telstra Corp. The company is investing A$500 million (US$331 million) in a new cellular phone network, using CDMA (code-division multiple access) technology, which will be operational in the first half of 2000. ''We are going to change the industry's traditional view of what is a local call and what is a mobile call,'' said Barry Roberts-Thomson. The service will allow consumers to use their cellular handsets in their local area at rates below mobile phone charges. Telstra dominates Australia's A$5 billion local calls market because it owns 99 percent of the phone lines to the nation's homes. Hutchison and Australia's No. 3 telecommunications company AAPT Ltd. plan to use the new CDMA technology to bypass Telstra's network. Hutchison is also planning to sell shares and list on the Australian Stock Exchange later this year, according to a recent report in the Australian Financial Review, which said the sale could raise A$200 million, allowing the company to build Australia's fifth mobile telephone network. The company already has 310,000 customers. It gets average annual revenue per user of A$1000 - higher than its cellular rivals because it concentrates on the corporate market. Hutchison posted a profit in fiscal 1998 of A$15.5 million on sales of A$260 million. Roberts-Thomson owns 30 percent of Hutchison telecommunications Australia. Hutchison Australia is a unit of Hong Kong-based conglomerate Hutchison Whampoa Ltd.. May/19/1999 4:41