DoCoMo responds to cash call. Telecomunicaciones :: Smartphone

DoCoMo responds to cash call


Fecha Jueves, abril 24 @ 09:55:28
Tema Telecomunicaciones :: Smartphone

NTT DoCoMo Inc announced this week it will provide a 200 million-pound ($315 million) loan to its British mobile phone joint venture, 3 UK.

3 UK, 65 percent-owned by Hong Kong conglomerate Hutchison Whampoa and 20 percent-owned by DoCoMo, requested a loan from its shareholders in March. The 3G venture needed one billion pounds to shore up its business after months of technical delays. The group quickly moved to reassure banks that it would reach its financial and business targets.


The cash from Japan's mobile giant will go along way to stabilising the venture. Now the group waits upon the final shareholder, KPN of the Netherlands, to make up its mind on whether to contribute to 3. A decision is due by Friday

Hutchison had already committed to providing the lion's share, 650 million pounds, in proportion to its own stake.

"This agreement represents a marriage between (DoCoMo's) expertise and the global commercial scale of Hutchison Whampoa's activities in the 3G arena," Hutchison Whampoa Group Managing Director Canning Fok said in a statement.
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