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London (pte037/11.06.2003/15:23) - A legal dispute has broken out among the parent companies of British UMTS mobile operator 3. According to a report by the Financial Times, Hutchison Whampoa intends to sue its partner KPN for breaking an agreement to fund 3 UK with a loan of over 150m pounds (212.31m euros).
The joint group based in Hong Kong has submitted its case to a London court and is suing for compensation from its Dutch partner.
Hutchison Whampoa owns 65 per cent of 3 UK, while NTT holds 20 per cent and KPN holds 15 per cent. The British mobile operator had received a billion pounds (1.42bn euros) from its parent groups after technical problems delayed the operation of its network. Hutchison ultimately supplied the remaining 150m pounds.
Last year KPN placed its 1.2bn pound (1.70 bn euro) share in 3 UK for sale. Since then, KPN has said it plans only to invest in the company if required to do so by the shareholder agreement.
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