Technology Industry
Industry: Email Alert RSS FeedNEC takes stake as Hutchison begins European 3G launch. (Global Wireless).
RCR Wireless News, October, 2002
TOKYO -- Japanese vendor NEC Corp. has taken a 5-percent stake in two mobile-phone subsidiaries owned by Hutchison Whampoa Ltd. for a total $73 million. The stakes are in Hong Kong mobile operator Hutchison Telephone Company Ltd., Hong Kong's largest mobile operator, and Hutchison 3G ElK Holdings, which owns a third-generation license in Hong Kong.
The deal ensures that NEC will be a 3G equipment provider to Hutchison's 3G businesses worldwide and signals the Japanese vendor's confidence in Hutchison's 3G plans. NEC is already supplying 3G infrastructure systems and more than 1 million 3G devices for Hutchison 3G operations and is providing 3G infrastructure to Japanese operator NTT DoCoMo Inc.
Hutchison 3G U.K. Ltd is today beginning a phased...
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