Word: 3g
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...That's the point the skeptics miss: Unlike pure telecom companies, Hutchison Whampoa does not need its 3G business to be successful immediately. It can afford to subsidize Hutchison 3G heavily, for as long as management continues to believe 3G will ultimately pay off. Li, one of the richest men in the world (with an estimated net worth of $10 billion), is not one to throw good money after bad. He has frequently stated that not getting too attached to any investment is one of the greatest psychological edges he has. "He is very pragmatic and unsentimental," says Ingelbrecht...
...fact, Rabbit appears to be the single misstep in a series of spectacular wins. A large portion of the money Li is using to build a 3G network comes from the successes of his 2G investments. Li and his team, led by group managing director Canning Fok, were the same folks who built Orange into a leading mobile carrier in the United Kingdom before unloading their 49% stake for a cool $21.5 billion in 1999. Soon thereafter, Hutchison Whampoa sold its 23% stake in U.S. wireless firm Voicestream to Deutsche Telekom for another $9 billion...
...record as a dealmaker and the company's solid balance sheet, many of Hutchison Whampoa's minority shareholders are giving Li the benefit of the doubt, despite the swirling pessimism. Indeed, management conviction seems to be the only thing that matters?and few expect Li to blink. "3G is a long-term investment for them," says Paolo Pescatore, an analyst at research firm IDC. At least until they get a better offer...
...shing: 3G Glasses...
...shing: 3G Glasses...