Hutchison may cancel PCN plans in Britain
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.HUTCHISON WHAMPOA of Hong Kong is expected to abandon plans to set up a personal communications network (PCN) to rival cellular radio and fixed telephone networks in the UK, writes Mary Fagan.
The move would be a blow for the Government's drive for competition as the only other PCN licensees, Mercury and US West, have already merged their mobile telephone projects.
Hutchison is so far denying newspaper reports in the Far East that it would abandon PCNs, along with most of its other overseas telecommunications ventures. Li Ka-shing, the group's chairman, said: 'To further clarify the position with regard to the company's United Kingdom operations in telecommunications, it is our firm intention to continue to support this investment.'
But UK analysts said that the PCN operation has been unofficially up for sale for some months. It is believed that the parent group is unwilling to pay the estimated pounds 600m needed to establish the PCN network.
The high start-up cost of Hutchison's telecommunications operations in Britain has been of increasing concern to Hong Kong analysts. In August Hutchison announced a loss of HKdollars 78m ( pounds 6.4m) in the six months to 30 June, compared with a profit of HKdollars 2.04bn a year earlier. The group blamed a large provision for its Canadian unit, Husky Oil.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments