Relations sour between KPN and Hutchison

18 Mar 2003

Netherlands-based KPN has announced that it will not plough further investment into Hutchison 3G UK, in which it holds a 15% stake, unless it is required to do so by law. Hutch claims that under the terms of its shareholder agreement KPN is obliged to provide further investment and has requested that it inject GBP150 million (EUR222.1 million). Fellow stakeholder NTT DoCoMo is also understood to have been petitioned for cash.