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Moody’s Joins Hutchison Naysayers

Posted on Monday 28 June 2004

Moody’s Investor Service has hitched a ride on the Hutchison-Won’t-Succeed-With-3G bandwagon, climbing aboard with Nomura Securities. Moody’s said it doubts that Hutch will be able to maintain its net add rate and will eventually be forced to curtain spending. “Severe competition for market share could negatively impact [Hutchison] from achieving targeted subscriber numbers and improving ARPU, and/or significantly raise customer acquisition costs,” the company said in a report issued last week. Last month Nomura said it believes that Hutch will exit the 3G cellular business by the end of 2006.


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