Hutchison Whampoa has won a third-generation (3G) mobile phone licence in Denmark, its second this week.
The conglomerate, which won one of Hong Kong's four 3G licences on Wednesday, captured its fifth European 3G licence through subsidiary Hi3G Access after agreeing to pay 950 million Danish crowns (about HK$923.8 million). Hi3G Access is a 60-40 joint venture between Hutchison and Sweden's Investors group.
'Hi3G will bring a strong offering to the Danish market,' said chief executive Chris Bannister.
The Danish Government yesterday awarded four licences at almost double the minimum price of 500 million crowns.
Hutchison Whampoa, which has spent 11 billion euros (about HK$79.31 billion) for European licences, outbid Norwegian operator Telenor.
In the Hong Kong auction, the Government sold four licences at the lowest possible price of HK$1.88 billion, assuming a discount rate of 12.5 per cent.