Word: 3g
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...shing: 3G Glasses...
...shing: 3G Glasses...
...hotel management. The chairman of conglomerate Hutchison Whampoa enjoyed a reputation not unlike America's Warren Buffett?when he made a contrarian call, everyone assumed he was right and the world was wrong. But Li's latest and most controversial move yet?a mobile-telecom venture called Hutchison 3G?has some wondering whether the guy they call Superman has lost his mind...
MobilCom might have been a great company if it didn't get saved so often. Burdened by debt from its 3G venture, the firm faced insolvency after France Telecom stopped its funding. Then Gerhard Schröder, mindful of the elections and the 5,500 jobs at risk, announced a ?400 million lifeline. Such bailouts are notorious monetary black holes, and analysts quickly noted that MobilCom would soon need another infusion without big changes. But for two reasons, this rescue may be different. First, commercial banks are no longer playing along, as they did in 1999 when pressured to save...
Michel Bon turned France Telecom (FT) from a national fixed-line phone company into a European powerhouse. But the acquisition binge that brought the company Orange, a 28.5% stake in MobilCom and a disastrously expensive 3G presence also left it with a staggering debt of nearly ?70 billion, and as Bon resigned last week that looked like his lasting legacy. FT now seems to be headed for a ?10-15 billion rights issue to plug next year's funding gap. But that's a flimsy plaster for a company that hemorrhaged ?8.3 billion last year and ?12.2 billion in this...