Hutchison's Li: further Europe 3G investment unlikely; 1 more bid possible

HONG KONG (AFX-ASIA) - Hutchison Whampoa Ltd chairman Li Ka-shing said his group is unlikely to make any further significant 3G investment in Europe, though there is a chance it may bid for one more licence, at the most.	    He said the group will focus on 3G opportunities in Asia.	    "We have four 3G licences in Europe... we are unlikely to go further for more 3G investment in Europe, although we may possibly bid for one very last 3G licence there," he told reporters after the release of Hutchison's 2000 results.	    In the statement accompanying the results, Hutchison said it has no plans to pursue additional 3G investments in Europe for the moment.	    Hutchison has four European 3G licences -- in England, Austria, Sweden and Italy. Analysts said the company is believed to be interested in bidding for a 3G licence in France.	    "I will not tell you if we will surely bid for another 3G licence in Europe and which country it will be," Li said.	    "However, we will be looking at the 3G opportunities in Asia," he added.	    Li said Hutchison's investment strategy will remain prudent, adding that "the investment commitment of Hutchison will not exceed its reserves of 200 bln hkd, which include cash and other marketable securities,"	    Separately, Li said Hutchison and parent Cheung Kong will continue to expand extensively in China, where they have total investments of over 60 bln hkd.	    "This year, we will commit billions of investment in China," he said.	    He said his group is positive about hi-tech investments especially in the biochemical area, although sentiment towards the hi-tech sector has turned cautious after the negative performance of NASDAQ over the past year.	    "We will not rule out the possibility of spinning off some of our biochemical units in the future," he said.	    Separately, Li said Hutchison owns 70.0 mln hkd worth of shares in PCCW, but a telecoms cooperation between Hutchison and PCCW is highly unlikely, because of the potential conflict of interest.	    "We (Hutchison) made a net profit of 34.11 bln hkd in 2000... 70.0 mln worth of investment in PCCW is not significant," he said. 

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