Oniway to close down 3G operation
Fecha Martes, diciembre 10 @ 11:24:01
Tema Telecomunicaciones :: Smartphone
| Portuguese 3G license holder Oniway will close down its operation after shareholders agreed to sell off its assets to domestic rivals for €160m. Electricidade de Portugal's (EDP), 68% shareholder, decision to shutdown the startup 3G unit reflects the uncertain outlook for 3G services. However, minority stakeholder Telenor of Norway (20%) said it along with Spanish power company Iberdrola (8%) will oppose the deal.
Analysts forecast that Oniway would have to spend up to €800m over four years to break into the competitive Portuguese market, where 85% of the population already have a mobile phone. EDP said financial, commercial and technical factors - unforeseen when it obtained its 3G license - have influenced its decision. "The freeze on starting up direct UMTS service held risks that were too great for us to take on and would have had the disadvantage of not letting us sell assets," said Chief Financial Officer Rui Horta e Costa. Oniway was due to launch GPRS services within a few weeks, ahead of launching 3G operations. Investments in Oniway totalled €484 million, EDP said. Another €30 million were estimated for extra operating costs until the company is closed in January. The remaining three operators - Vodafone Telecel, Portugal Telecom's TMN and Optimus - have agreed to divide most of Oniway's assets between them, paying about €50m each. Telecel has also agreed to purchase all of Oniway's shares, which gives it the right to use the operator's tax credits in 2003 and 2004.
| Este artículo proviene de Kalysis Community
https://kalysis.com/content
El URL de esta nota es:
https://kalysis.com/content/article.php?sid=156
English Translation |
|
|