Nynex to expand in key markets
AMERICAN communications company Nynex will be making most of its investments in Asia and Britain over the next five years.
Company president Joseph Farina said in Hong Kong yesterday the firm had studied the Asia-Pacific market intensely and invested in a number of key markets in the region.
''Our intention is to develop business opportunities in co-operation with strong and influential Asian partners such as CP Pokphand Group in Thailand and companies like Wharf in Hong Kong, with whom we have a longstanding association.'' Nynex, which made a US$1.2 billion investment in Viacom in October last year, now intends to use Viacom's takeover of Paramount to help market its cable television services.
''In the future, no one is going to be just a distributor. They will also have to have a hand in the manufacturing programme content,'' Mr Farina said.
Paul Duffy, senior vice-president and managing director of Nynex Network Systems, said: ''Viacom's successful takeover over of Paramount will further strengthen our partnership and improve Nynex's position in strategically important markets in the Far East.'' The company - which owns 18.5 per cent of Telecom Asia in Thailand; the reminder being owned by CP Pokphand - is planning to launch a cable television network in Bangkok, using a fibre-optic and coaxial telephone system as the signal carrier.
Nynex also hopes to make use of Pokphand's connections in China to help it establish on the mainland.
However, because of China's restrictions on foreign companies making equity investments in telecommunications projects on the mainland, the company is only interested in establishing a presence there.
Mr Duffy said: ''At the moment, we are not interested in owning assets in China but we do want to invest by way of technical advice and support.
''And we would like to see some kind of return on this investment at some point in the future.'' The company will also be investing in Britain, where its Nynex CableComms operates franchises for cable television in 19 areas.
Mr Farina said: ''We will be investing up to US$3 billion over the next five years in the UK.
''We have already begun looking at repackaging some programmes in the UK because of our Viacom relationship.''
