Hutchison 3G in for a penny, 186k for a pound

18 Dec 2002

UK gas company Transco has sold its loss-making telecom subsidiary 186k to Hutchison Whampoa for the nominal sum of GBP1. As part of the deal the Hong Kong group will also receive an undisclosed cash sum that releases Transco from its telecom network services contract. Hutchison’s UK cellco ‘3’ has been using 186K’s network as a core component of its 3G network trials for the past year.