Technology

Hutchinson 3G receives vote of confidence from NEC

NEC Corporation has agreed to buy a 5% strategic stake in Hutchinson Whampoa's domestic telecoms arm. The Japanese handset manufacturer is paying $73 million for a stake in Hutchinson Telephone Company and, more significantly, Hutchinson 3G HK Holdings.

CBR Staff Writer October 6, 2002

The deal is being interpreted as a vote of confidence in the 3G plans of the Hong Kong based group. While Hutchinson Telephone operates 2G services in Hong Kong, Hutchinson 3G HK is licensed to provide 3G services in the area.

The announcement follows a series of set backs for Hutchinson. The company has had to postpone a $1.5 billion dual currency bond issue because of tough market conditions and Japan’s NTT DoCoMo is writing down its stake in Hutchinson 3G UK.

More Relevant

Digital economy

How justfly.com defines a “user-centred” travel solution

Partner content

Power of the possible: Why enterprises can no longer afford to delay GenAI initiatives

Cybersecurity

British digital bank Revolut criticises Meta over lack of fraud compensation

Cybersecurity

Hack sees Disney back off from Slack

Sign up to the newsletter: In Brief

Your corporate email address *

First name *

Last name *

Company name *

Job title *

Vist our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the Progressive Media network.

Sign up for our regular news round-up!

Sign up for our weekly news round-up!

Sign up to the newsletter: In Brief

I would also like to subscribe to:

Thank you for subscribing