Nomura predicts Hutch will ditch 3G by 2006

10 May 2004

Investment bank Nomura has reportedly predicted that Hutchison Whampoa will extricate itself from its 3G businesses by the end of 2006. The speculation follows hot on the heels of a similar prediction by Standard & Poors credit rating agency, which even went a step further by suggesting that Hutch’s Italian operation 3 Italia was close to folding. Analysts report that Hutch has invested USD22 billion in 3G technology and is burning cash at the rate of USD12.8 million per day.

Hong Kong, CK Hutchison