Telecoms.com

Telecoms.com: "Hutchison downplays 3 spin off rumors

Hong Kong conglomerate Hutchison Whampoa today said that it had no immediate plans to float either of its UK or Italian flagship 3G operations. In a statement this morning, the company said that whilst plans are being made to put in place appropriate new capital structures for the Italian and UK 3G businesses in a bid to will maximise their value contribution, 'the company has no concrete plan, no application or submission to any stock exchange has been filed and no sponsor has been appointed, for a spin-off of either of the group's Italy or UK telecommunications businesses.'
The 3 Group is expected to become self-financing in the 2005-2006 period, and Hutchison said it would explore the feasibility and possibility to spin-off either or both such businesses at a time when it is considered appropriate and in the interests of the company to do so." I think come the budget 3 might have to think about it. You cannot just throw commission and get a big take up of network usage and not expect to take public money forever.