Hutchison Whampoa, Hutchison Telecommunications (Australia) and Telecom Corporation of New Zealand have announced an alliance forming new companies in Australia and New Zealand focused on third-generation (3G) mobile products and services.
In Australia, Hutchison 3G Australia will develop 3G services in Australia. While in New Zealand, a new company Telecom 3G will conduct 3G business.
Telecom New Zealand has invested $400 million in the Australian company with the remainder of the $1 billion investment coming with Hutchison and its parent company.
The deal means the new Australian entity will own the1800MHz spectrum licence and 2.1GHz spectrum licences recently acquired by Hutchison Telecommunications (Australia).
The alliance will have access to the global resources of the Hutchison 3G group for content, applications, technology, management expertise and branding.