HONG KONG
Hong Kong’s SmarTone Telecommunications Holdings Ltd. announced agreements with Star Telecom International Holdings Ltd. and Telecom Service Ltd. to acquire
P Plus Communications Ltd., a PCS operator, for about US$95 million. The news did not come as a surprise; it has been rumored for quite some time that SmarTone was looking for a PCS acquisition. SmarTone, a GSM provider, began as a joint venture between AT&T Wireless Services Inc.; Sun Hung Kai Properties, a Hong Kong property developer; ABC Communications of Hong Kong; and Town Khan, a company owned by the former Ministry of Post and Telecommunications in China. SmarTone now is publicly traded on the Hong Kong Stock Exchange, and AT&T is a 16.5-percent shareholder. The transaction was scheduled to be completed by 15 April.
INDONESIA
The Indonesian government in early April agreed to privatize state-owned telecommunications as part of a new US$43 billion rescue package negotiated with the International Monetary Fund. The accord was the third attempt over six months to help the fourth-largest nation avoid financial collapse.
SINGAPORE
Singapore’s second cellular carrier, MobileOne (Asia) Pte. Ltd., is scheduled to commercially launch its
CDMA network in June, according to a Reuters news report. MobileOne currently operates a GSM network.
SOUTH KOREA
LG Telecom said it has launched in South Korea the first wireless data service on a CDMA network.
Bell Canada International Inc. said it will acquire 29 percent of South Korea PCS operator Hansol PCS Co. Ltd. for US$180 million. Hansol is one of three PCS operators in South Korea that launched service last October, and analysts have indicated Hansol would need stronger financial backing as competition becomes fierce in the market. Five mobile-phone operators now compete for market share in South Korea. The Hansol consortium is led by the Hansol Paper Group and a number of other South Korean investors, including Dacom, Hanwha Group, Ssangyong Group, Gohap Group, Youngpoong and Jindo.
