Hutchison leases One.tel network
Hutchison Telecommunications plans to supplement its 3G networks by leasing with the Australian network of bankrupt One.tel for an undisclosed price.
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Hutchison, controlled by Hong Kong conglomerate Hutchison Whampoa, will lease the network from Lucent but will not buy the network outright. Lucent acquired the network assets last year and has been seeking buyer ever since.
Hutchison Whampoa also increased its telecommunications stake by announcing separately it would invest $750 million in the bankrupt Global Crossing for a majority stake in the company.
--Kevin Fitchard, staff writer
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© 2012 Penton Media Inc.
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