HONG KONG-Hutchison Whampoa said it joined Italian consortium Andala SpA by buying a 51-percent stake. The consortium, owned 25.5 percent by Tiscali and 15 percent by CIR, plans to bid for one of five UMTS licenses in Italy.
Italian company Tiscali operates an Internet network offering portal and e-commerce services along with voice and data transmission. CIR is an Italian industrial holding company with media and communications interests.
“The company is going into the auction with a group of committed and strong shareholders, and after the award of the license, will be part of a Europeanwide strategy from which will derive stimulation and a push ahead to the Italian telecommunications industry,” said Franco Bernabe, Andala president and a 2-percent shareholder.
San Paolo-IMI holds 5 percent of the company, HdP has a 1-percent stake and Gemina has 0.5 percent.
Formal offers for UMTS licenses in Italy are due by Aug. 24, with the awards expected in September.
