That underestimates the global Hutchison 3G strategy which requires an Australian presence in order to provide global coverage.
Don't confuse HWL's spinoff of some of its other telco assets for an apparent exit from the market. Rather, Canning Fok's (and Dennis Lui's) main claims to fame include securing strategy targets and then engaging risk mitigation techniques to spread out the execution risk.
Hutchison already has 3G sharing arrangements in place in Sweden, Denmark, Italy, UK, Hong Kong, India (@2G), Thailand (@2G), Austria and Israel, to name a few.
HWL also has 3G partnering arrangements in place with TEL in relation to NZ.
So sale - no. But risk mitigation - yes.
HTA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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