I-Cable and New T&T may join force to bid in HK 3G auction

date: July 19, 2001

Hong Kong's i-Cable Communications Ltd said on Thursday it may launch a joint bid with sister company New T&T, a fixed line telephone company, for a 3G mobile phone network licence in Hong Kong.

"We're interested and we're going through the bidding guidelines at the moment," Garmen Chan, a spokesman for the cable TV firm, told the press.

i-CABLE is listed on the Hong Kong Stock Exchange. It is 79.4 per cent held by The Wharf (Holdings) Limited.

On Wednesday the Hong Kong government layout out the rules for the 3G auction with a minimum annual payment is HK$50million per annum for the first five years, rising thereafter.

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