Jwolpert,Last night, HTA released their Rights Issue Prospectus,...

Jwolpert,

Last night, HTA released their Rights Issue Prospectus, following last Friday's AGM.

Late this morning, they issued presentation materials to the ASX in support of the Rights Issue. These materials will be presented in various institutional /investor briefings that are scheduled for the remainder of this week.

As has been mooted for some time, HTA have finally moved to informing the market of their Business Case /Prospects, and of their view of the future.

In the coming weeks, we should expect to see more media /analyst attention being paid to HTA as its 3G roadshow continues.

Meantime, some in the markets are only beginning to fathom the true underlying meaning of last Friday's tie-up between Vodafone and HTA.

At last Friday's AGM, it was announced that H3GA will be switching its 3G traffic via the Vodafone 2G and 2.5G (ie: GPRS) networks in those areas where H3GA either does not have a 3G signal, or which is unlicensed for the purpose.

The roaming arrangements are exclusive with Vodafone (ie: Vodafone's network can only be used insupport of H3GA's 3G activities, and not for any other prospective 3G network out there) and are for an initial period of 5 years.

In effect, this means that from Commercial Launch onwards, H3GA will be providing national 3G coverage, inclusive of the 2G and 2.5G roaming arrangements with Vodafone.

Coupled together with the longterm (ie: 15 year) fibre deal with Optus that was announced on 31 October last year, and H3GA is rapidly getting to a position where:
1)
its IP backbone coverage /switching requirements have been covered locally (ie: via Optus); and
2)
its customer roaming requirements have been covered locally (ie: via Vodafone).

Next on the agenda for HTA will be cementing the relationship with Vodafone and the likelihood of:

1)
Vodafone exiting the Australian market, or merging together with HTA (as Andrew Hines of ABN Amro keeps telling us, and the overseas media keep speculating on); or

2)
Vodafone joining up with H3GA to share its 3G network (ie: sharing infrastructure, etc), just as Vodafone and Hutchison Whampoa have done elsewhere in the world, including in Denmark, Sweden and in the UK.