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2006
1 Jun

New World TMT to invest in eMobile Limited, Japanese 3.5G mobile operator

New World TMT Limited (New World TMT) announced that an investment of a minority shareholding in a Japanese 3.5G mobile operator - eMobile Ltd. (eMobile) by New World TMT has been concluded. Under the agreements of the transaction, New World TMT has invested JPY 6 billion (equivalent to approximately US$51.28 million) in eMobile. 

Mr. Albert Wong, CEO of New World TMT, said, "This is a significant step for New World TMT to strengthen its TMT investment portfolio and is consistent with our strategy to further diversify our business presence in the region. Leveraging on our significant experiences in the highly competitive telecom and media markets in Hong Kong and Mainland China, we would look forward to contributing to the prospective success of eMobile in the similarly vibrant Japanese Market." 

eMobile was awarded a mobile operating license in Japan in November 2005 and is committed to the provisioning of nationwide 3.5G mobile broadband communication services in Japan by utilizing HSDPA technology over a W-CDMA network. eMobile's existing shareholders include eAccess Ltd., Goldman Sachs, Tokyo Broadcasting Systems (TBS), Temasek and Mitsui. 

New World TMT Limited is a wholly owned subsidiary of New World Development Company Limited focusing mainly on Telecom, Media and Technology (TMT) investments. The Company together with its subsidiaries and associated companies are principally engaged in the businesses of telecom value added services, media and various technology businesses in Hong Kong, Mainland China and the Asia Pacific region.