New World May Use MVNO in HK

date: September 19, 2001

New World Mobility, a unit of New World Development that did not submit a bid for one of four 3G wireless spectrum licences sold in Hong Kong, said on Wednesday it would consider leasing 3G capacity from other networks.

Under terms of Hong Kong's spectrum sale, each network owner must make 30 percent of its network available to so-called "mobile virtual network operators," or MVNOs.

"After serious consideration of the local mobile environment, New World Mobility will consider pursuing the MVNO strategy for 3G services," a spokeswoman told the press.

In July New World Mobility confirmed it will be participating in the auction process for Hong Kong's four 3G mobile services licenses.

New World Development is a Hong Kong based conglomerat, established in 1970 with total assets exceeding HK$128 billion. After more than 20 years of operations, the Group has expanded its core businesses to include property, infrastructure, services and telecommunications & technology.

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