Hutchison May Quit U.K. Mobile Market on 4G, Sunday Times Says
Stock Chart for Hutchison Whampoa Ltd (13)
Hutchison Whampoa Ltd. (13) may quit its mobile-phone business in the U.K. unless it’s guaranteed part of the fourth-generation spectrum the country will auction at the end of 2012, the Sunday Times reported, without citing anyone.
Canning Fok, managing director at Hutchison, last month told Prime Minister David Cameron that the company was prepared to stop investing or quit the telecommunications market without assurances it would receive a guaranteed allocation at the planned 4G-spectrum sale, the newspaper said.
Hong Kong-based Hutchison, which runs the 3 mobile network in the U.K., declined to comment to the Sunday Times.
Laura Cheung, a spokeswoman for Hutchison in Hong Kong, didn’t immediately reply to a call to her pager today, which is a public holiday.