[3GScottishUser]

Wireless Week (09/05/2005):

Addressing circulating reports that Hutchison Whampoa plans to spin off one or both of its 3G units in the United Kingdom and Italy, the company's board said it has no immediate action planned.

The company is in the midst of finalizing new capital structures for its 3G units in the United Kingdom and Italy in an effort to maximize their value contribution to the Hutchison group.

"The company has no concrete plan, no application or submission to any stock exchange has been filed and no sponsor has been appointed, for a spin-off of either of the Group's Italy or UK telecommunications businesses," Hutchison Whampoa said in a prepared statement from its board.

The company, however, did not rule out the possibility of exploring a spin-off for one or both of the 3G business units, saying it "will explore the feasibility and possibility to spin off either or both such businesses at a time when it is considered appropriate and in the interests of the company to do so."

http://www.wirelessweek.com/index.asp?layout=document&doc_id=1340004339&verticalID=34&vertical=Business+and+Finance&industry=

[Ben]

Well no immediate action, as far as I can see, would be feasible. First of all they need to straighten their finances out quite a lot - the business needs to actually cover the costs of it's subscribers *and* new acquisitions, the latter being the one it currently can't do. Once Three businesses reach that self-financing stage then I can't see them not being floated and, eventually, snapped up.

As mentioned in the article, no action will be taken until it is 'in the interests of the company'. They'll want to make big bucks back on their investment!