NEWS Hutchison Whampoa has admitted it may need to take a major financial hit in order to gather enough money to build its Italian 3G network and make good on the licence it bought for E2.3bn (£1.4bn). The Hong-Kong based firm has been trying to negotiate deals for the E5bn (£3bn) it needs to build the network. According to the Financial Times>, MD Canning Fok admitted the firm may have to increase the debt to the parent company, despite previous confidence that it would be able to finance the project through independent loans.
Hutchison to risk profits for 3G leg-up
Canning Fok not such a cunning fox...
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