|Hutchison 3G HK Limited granted 3G license in Hong Kong|
Posted: 23-Oct-2001 [Source: NTTDoCoMo press release]
[Hutchison Whampoa and NTT DoCoMo's joint venture company Hutchison 3G HK is awarded 3G license in Hong Kong.]
Hong Kong -- Hutchison Whampoa Limited ("HWL"), NTT DoCoMo, Inc. ("NTT DoCoMo") and their joint venture company, Hutchison 3G HK Limited ("Hutchison 3G HK") today announced that Hutchison 3G HK has been officially awarded one of the four Hong Kong 3G licenses, which lasts for 15 years from the date of issue.
Agnes Nardi, Managing Director of Hutchison 3G HK Limited 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. Leveraging on the Hutchison Group's 3G businesses and the invaluable support of NTT DoCoMo, we are confident that by the end of next year, we will provide Hong Kong customers with the highest quality 3G network and exciting new mobile multimedia services".
Today Hutchison 3G HK was officially granted a 3G license by the Office of Telecommunications Authority, with the payment of HK$2,398,888.88 for Block D of 3G spectrum, which is the best block of spectrum among all available. As with the other three license holders, Hutchison 3G HK will also pay a Performance Bond in respect of the next five years' minimum payments.
Hutchison 3G HK, a subsidiary of HWL and a unit of its wireless operations, is formed as the 3G license holding company in Hong Kong. Hutchison 3G HK is jointly owned by HWL (74.63%) and NTT DoCoMo, Inc. (25.37%). NTT DoCoMo is also a joint venture partner in Hutchison 3G UK.
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