Hutchison looks to acquire bankrupt 3G operator

OXFORD, United Kingdom—Hi3G, the 3G license holder owned jointly by Hong Kong-based Hutchison Whampoa and the Swedish Investor group, has emerged as the most likely bidder for the bankrupt Norwegian 3G licensee, Broadband Mobile. The country’s communication ministry has already stated that it would not accept bids from existing Norwegian 3G license holders Telenor, Telia’s subsidiary NetCom GSM and Tele2 Norge, owned by NetCom of Sweden.
Broadband Mobile, currently owned by Enitel, is Norway’s second-largest service provider, and Finland’s major cell phone operator Sonera, was reported to be in merger talks with Orange and BaneTele, the telecom arm of Norway’s national railway company.
Hutchison Whampoa’s chairman Li Ka-shing confirmed earlier this week that he was confident in the company’s investments in 3G infrastructure in Europe, despite intense investor skepticism about the cost and revenue potential of the technology. The firm, together with partners, has commitments to build 3G networks in Italy, the United Kingdom, Austria and Sweden.