Business Services Industry
TELSTRA, HUTCHISON FORMALISE 3G MOBILE PHONE INFRA DEAL.
AsiaPulse News, December, 2004
SYDNEY, Dec 6 Asia Pulse - Telstra Corp (ASX:TLS) and Hutchison Telecommunications Ltd (ASX:HTA) today formalised their agreement to share infrastructure for 3G mobile phone services.
The two telcos today signed binding agreements for the deal, announced in August, which will allow Telstra to begin offering 3G to its mobile subscribers from July 1, 2005.
Third generation, or 3G, is a high-speed mobile phone service that allows the transmission of live video and faster data speeds for downloading information from the internet to a mobile phone.
Under the deal, Telstra will pay Hutchison A$450 million (US$351 million) for a 50 per cent ownership of the infrastructure.
The funds will be paid in four instalments, starting this month.
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