NTT DoCoMo gets out from under 3G UK.(United Kingdom)(Mergers And Acquisitions)(Brief Article)

European Telecom, June, 2004

Apparently giving up on what seems to be a failing enterprise, NTT DoCoMo is to sell its entire 20 percent shareholding in Hutchison 3G UK to Hutchsison Whampoa for [pounds sterling]120 million.

Under the terms of a Sale and Purchase agreement announced recently, DoCoMo will get its money in three installments over the next two and a half years. The payments will either be in cash or in shares in Hutchison Telecommunications International Limited (HTIL) a subsidiary vehicle of Hutchison Whampoa Limited that is awaiting listing on the Hong Kong stock exchange.

However, the payments are to be made with the final one due by December 2006. As part of the agreement, the [pounds sterling]200 million shareholder loan provided by DoCoMo to Hutchison 3G UK in...

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