Business Services Industry
Telstra, Hutchison finalize $352 million 3G deal.(Mergers And Acquisitions)(Brief Article)
China Telecom, January, 2005
Telstra has finalized a deal with Hutchison in Australia, which will enable Telstra to share the network of Hutchison for providing its third-generation mobile phone services. The deal is valued at $352 million. Telstra will be able to provide its 3G services by the first of July in 2005. Hutchison is currently the only provider in Australia to provide 3G services.
The deal will give 50 percent ownership of Hutchison's network, which covers Australia's five largest cities. The 3G network allows transmission of live video and faster data speeds for downloading information from the Internet to a mobile phone.
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