The loan was made through Hutchison Whampoa’s wholly owned subsidiary, Hutchison Telecommunications. It will provide working capital funding for the company and could trigger DoCoMo to offer a matching loan.
Hutchison 3G UK’s counterpart in Hong Kong passed a significant milestone with the winning of the license, as the company’s managing director said, This license award marks the beginning of our 3G business in Hong Kong. Being the largest mobile operator in Hong Kong with superb network quality and riding on our competitive edge in 2G/2.5G technical and service innovations, we are actively working with mobile infrastructure suppliers, content and application providers in constructing the 3G network and in developing content and applications.
The license cost the company HK$2,398,888.88 ($307,537) and lasts for 15 years from the date of issue.
