OniWay out of Portuguese 3G

1 Dec 2002 at 07:57 GMT Timo Poropudas

Portuguese startup OniWay is exiting the market before it even launched its network or offered any service. The company is considering bids for its assets from the trio of remaining 3G license-holders. Optimus, Vodafone Telecel, and Portugal Telecom, SGPS, S.A. are the three operators left to compete for the coming 3G-business of ten million Portuguese and over the network assets of Oniway. Oniway reportedly invested €300 million for its network and €100 million on its license. According to analysts the company would have had to spend a further €700 million to €900 million to become a player in the market. Oniway is 20 percent owned by Norwegian telcom operator Telenor ASA.