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215 - Hutchison Telecommunications Hong Kong Holdings News Story

HK$1.26 0.0  0.8%

Last Trade - 12/08/20

Sector
Telecoms
Size
Mid Cap
Market Cap £600.5m
Enterprise Value £107.3m
Revenue £552.0m
Position in Universe 1042nd / 5989

UPDATE 1-Britain's mobile operators team up to tackle rural 'not spots'

(Adds quotes)
    LONDON, Oct 25 (Reuters) - Britain's four mobile network
operators have agreed to build a shared rural network, backed by
funds from government, banishing countryside "not-spots" where
consumers are unable to get an adequate signal.
    EE  BT.L , Vodafone  VOD.L , O2  TEF.MC  and Three  0215.HK 
will collectively spend 532 million pounds ($684 million) over
20 years, according to the plan published on Friday, potentially
supported by a 500 million pound investment from government.
    The operators would invest in new and existing phone masts
they would all share under the proposal, which the government
hopes will be formalised early next year.
    Digital Secretary Nicky Morgan said she is determined to
make sure no part of the country is left behind in mobile
connectivity.
    "Brokering an agreement for mast sharing between networks
alongside new investment in mobile infrastructure will mean
people get good 4G signal no matter where they are or which
provider they're with," she said.
    "But it is not yet a done deal and I want to see industry
move quickly so we can reach a final agreement early next year."
    The operators have agreed to share existing masts and
infrastructure in areas where there is coverage from at least
one but not all operators.
    If this is delivered, the government will then commit up to
500 million pounds of investment to eliminate total not-spots -
the hard-to-reach areas where there is no coverage from any
operator.
    The agreement will bring high-quality 4G coverage to 95% of
Britain by 2025, the government said.
($1 = 0.7780 pounds)

 (Reporting by Paul Sandle
Editing by David Goodman)
 ((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters
Messaging: paul.sandle.thomsonreuters.com@reuters.net))
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