Hutchison Whampoa, Investor AB, team up to bid for Swedish 3G licence

Moving ahead with its plan to build a pan-European mobile phone network, Hong Kong conglomerate Hutchison Whampoa has teamed up with Investor AB to bid for a 3G licence in Sweden.
Hutchison Whampoa, Hong Kong's ports-to-retailing conglomerate and Investor AB, Sweden's biggest investment holding company, agreed to team up to apply for a third generationá3G mobile phone licence in Sweden.

The companies will form a joint venture in which Hutchison will hold 60% and Investor 40%. The two companies previously partnered to acquire Guoco Land, subsequently renamed imGo, to develop mobile internet businesses in Asia.

In teaming with a deep-pocketed partner like Investor û the company has net assets of $20 billion û Hutchison is following a strategy that served it well when it bid with Telesystem International Wireless of Canada for a 3G license in the UK....

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