HTIL confirms CAC buy

1 Aug 2005

In the briefest of statements to the Hong Kong bourse, Hutchison Telecommunications International Ltd (HTIL) has confirmed the purchase of a 60% of PT Cyber Access Communications (CAC), owner of a national 3G operating licence. HTIL’s announcement comes in the wake of a story in the South China Morning Post that said it was freezing its USD120 million bid for the stake in the wake of concerns over the government’s plans to hold a second 3G auction in the coming months and reallocate UMTS spectrum.