5/21/2012 10:24:09 AM
Hutchison denies it will quit UK over 4G
Three's parent company Hutchison Whampoa has dismissed suggestions it will pull the operator out of the UK if it does not get a guaranteed slice of the spectrum up for grabs in the forthcoming 4G auction.
A report in the Sunday Times yesterday claimed Hutchison MD Canning Fok told Prime Minister David Cameron it would halt investment in the business, or potentially quit the UK telecoms market, unless he was assured the company would be protected during the auction. Three has been calling for the sub-1GHz safeguard to be reintroduced to the auction, which is set to take place later this year.
However, the conglomerate said this morning that suggestions it would cease investment or leave the UK were 'totally untrue and groundless'. A spokesman said: 'Hutchison Whampoa is the largest Asian investor in the UK and is happy with its current investments in the country; and [it] is actively looking at various different investment opportunities in the UK.'
Editor: Graeme Neill