HONG KONG-Hutchison Whampoa and Sweden’s Investor AB formed a consortium that plans to apply for a third-generation license in Sweden. The proposed ownership structure is 60 percent for Hutchison Whampoa and 40 percent for Investor.
Investor is Sweden’s largest holding company. The two companies recently partnered to acquire Guoco Land Ltd., to be renamed imGO Ltd., for pursuing mobile Internet opportunities in Asia.
“We have a long-term relationship with Hutchison Whampoa and look forward to cooperating with them also in this area,” said Marcus Wallenberg, Investor president and chief executive officer. “As Hong Kong’s largest multinational conglomerate, they have a wealth of knowledge. In the wireless communications field, they have extensive experience not only in Asia, but also in Europe and in the U.S.”
Sweden plans to grant four 3G licenses through a “beauty contest” later this year.
