In response to widespread speculation (CI No 2,024) Hutchison Whampoa chief executive Simon Murray denied that there would be major cutbacks in the overseas operations of its Hutchison Telecom Ltd subsidiary, Reuter reports from Hong Kong. But he did say that the company had decided not to go for any additional licences in Hong Kong and London, it was withdrawing from some countries, and closing down offices in others. Hutchison has withdrawn from Germany, Australia, India and Korea and will close small offices in Taiwan and Bangladesh. But there is no change in our existing businesses in Asia. Thailand and Malaysia will carry on just as they are, and we will concentrate on those and our existing businesses in Hong Kong…and no change in our businesses in the UK, he said. Hutchison would retain telephone operations in China, Hong Kong and Britain and paging operations in Thailand, Malaysia, and Australia, Murray said. These are big businesses and they require heavy front-end cash, he said: you simply can’t be building Personal Communication Networks all over the globe.
