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|Thursday, March 15, 2001, updated at 09:54(GMT+8)|
Macao to Break Monopoly of Mobile Telecom MarketThe approved establishment of two new companies is expected to break down the monopoly of Macao's mobile telecom market by Macao Telecommunications Company (CTM).
Macao Special Administrative Region (SAR) government has approved Hutchison Telecom and Smartone Mobile Telecom, both well- known enterprises headquartered in Hong Kong, to start business in Macao by the end of August this year.
The new companies are required to set up high-quality telecom networks within six months after their inauguration.
Both companies have promised to employ about 100 people in the first year and 70 of them will be Macao residents.
Hutchison plans to invest about 200 million patacas (US$25 million) in Macao in five years while the accumulated figure for Smartone will reach at least 110 million patacas (US$13.75 million) by 2005, according to sources from the companies.
Macao SAR government is drafting service and charging regulations that cater to the competition among the three companies.
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