LONDON-Hutchison Whampoa Ltd. wants an independent evaluation of its U.K. third-generation business as part of its legal battle with Dutch company KPN Telecom. KPN is looking to sell its 15-percent stake in Hutchison 3G U.K. and has refused to contribute more funding to the venture.
The valuation will help Hutchison determine whether to purchase KPN’s stake, which the Dutch company has already written down. A low valuation could force Hutchison to do the same.
Hutchison asked KPN for a $250 million loan for the 3G business, and KPN denied the request. Hutchison then sued KPN for the funds, and KPN countered with a claim for damages and a demand that Hutchison buy its U.K. stake.
NTT DoCoMo Inc. owns 20 percent of the U.K. 3G business and did supply additional funding for the operator.
