Investment in Hong Kong Broadband Network Ltd.
- Deployment of Internet Business in Hong Kong -
|[Press Release 2000-003]||March 1, 2000|
|KDD signed today an agreement with City Telecom (H.K.) Ltd. ("CTI"; Chairman: Mr. Ricky Wong Wai Kay; Main Office: Hong Kong), the second largest Internet connection and international telephone service provider in Hong Kong, and its subsidiary, Hong Kong Broadband Network Ltd. ("HKBN') on KDD's investment in HKBN.
KDD acquires 15 % of HKBN's shares with the investment of HK$ 225 million (about 3,375 million yen).
HKBN will launch at an early stage the broadband Internet connection service using FWA (Fixed Wireless Access) for which the company has obtained a new license, as well as succeed to the ISP business now being provided by CTI. The launch is the first case in Hong Kong as a full-fledged commercial communications service using FWA.
KDD has so far provided the international telephone service, the dedicated circuit service, the engineering service, etc., in Hong Kong through its 100% subsidiary, KDD Telecomet Hong Kong (President: Takayuki Kawakita; Main Office: Hong Kong). KDD will, in response to the progress of deregulation in Hong Kong, promote more positively than ever its business deployment in the Internet market there through investment in HKBN.
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