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KPN not interested in Three
March 18, 2003
KPN Mobile is not willing to invest in Three, a brand name for
Hutchison Whampoa's 3G businesses world-wide. Bram Oudshoorn, spokesman
of KPN, said that KPN is not interested in further investments in
Three unless it is forced to do so by law.
Hutchison Whampoa claims that KPN is obliged to further investments
as a result of the shareholder agreement. Three has asked its stakeholders
KPN and Japanese NTT DoCoMo to make new investments.
KPN has received, as a 15% shareholder of Three, a request to invest
£150 million in the company. Three needs the money to invest
in the offering of convergence of media, information and telephony
to enable video calls, multimedia content and entertainment for
mobile customers while on the move.
KPN and Hutchison Whampoa are not on speaking terms since the group
decided to cancel its investment in German mobile phone operator
E-Plus in a deal with KPN. As a result KPN had to provide all the
money needed for the take over of E-Plus by itself.
3 is the global name for Hutchison Whampoa’s third-generation services.
The Group holds 3G licences in Australia, Austria, Denmark, Hong
Kong, Ireland, Israel, Italy, Sweden and the UK.
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3G Motorola A920
