No moves on Greece 3G auction by Hutchison 3G

date: June 26, 2001

A spokesperson from Hutchison 3G told the press on Tuesday that it had not made any submission to the auction regulator in Greece in participating at the next months UMTS 3G auction.

Submissions for participation in the auction open on Monday. Qualified participants will be announced on July 10, a day before the auction begins.

Indication by Hutchinson 3G interested in Greece auction was when it had submitted comments late May to the Greek regulator on its plans to auction four high-speed 3G licences.

Hutchison Whampoa holds a 65% stake in Hutchison 3G, the other major shareholders are NTT DoCoMo (20%) KPN Mobile (15%).

In May, Greece's National Telecommunications and Posts Commissions (EETT) said it would auction four licences at $130million each. It will auction three if a fourth bidder does not appear, as analysts suspect, given the smallness of the Greek market and a mobile penetration rate of about 60 percent.

EETT Chairman Emmanouil Giakoumakis had said the small Greek market, the flourishing tourist industry and the country's proximity to southeastern Europe should be able to attract international operators to the Greek auction.

Potential bidders for the four licences include Greece's three existing mobile operators - Vodafone subsidiary Panafon, CosmOTE - a venture of Greece's OTE Telecoms and Norway's Telenor - and Telecom Italia's Stet Hellas.

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