Sonera, Telefonica to close German joint venture
Finish carrier Sonera and Spain's Telefonica said they plan to close their German joint venture, an MVNO called Group 3G/Quam, after only seven months in operation. The MVNO launched late last year and had attracted 200,000 subscribers as of the end of June. The companies said the MVNO's business plan was no longer feasible. Both Sonera and Telefonica have written off many of their 3G investments across Europe. Telefonica reported a 3G-related write-off of $4.87 billion.
For more on the latest wireless closing, see BWCS
http://www.bwcs.com/marketing/index2.html
Friday, July 26, 2002
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