3 completes its £1bn fundraising
Thursday 24 April 2003
The mobile phone operator 3 yesterday secured another £200m of financing from the Japanese telecoms company NTT DoCoMo to complete its £1bn fundraising exercise.
Separately, NTT DoCoMo, which owns 20 per cent of 3, agreed to co-operate more closely with 3's major shareholder, Hutchison Whampoa, on the development of third-generation mobile phone services.
Hutchison, the ports to telecoms conglomerate which owns 65 per cent of 3, has already committed to stumping up £650m – its share of the £1bn that 3 is looking for.
The Hong Kong-based group has also said it will pay KPN's £150m share of the fundraising if the Dutch company refuses. KPN owns a 15 per cent stake in 3 but has yet to commit to the fundraising.
NTT DoCoMo said yesterday it had signed an deal with Hutchison to develop and promote 3G services worldwide.
The pair will share information on handset development, radio network architecture and the development of global 3G standards and will also look at ways of working together to create new services.
Canning Fok, Hutchison Whampoa's managing director, said: "NTT DoCoMo's technological prowess at the cutting-edge of mobile communications is unrivalled."
- 1 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
- 4 Scotland could still declare independence – even without referendum, says Alex Salmond
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': TV reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...
Up to £80000: Saxton Leigh: My client, a large commodities broker, is looking ...