DUBLIN -(Dow Jones)- Smart Telecom PLC said Friday it expects a High Court ruling on the award of Ireland's last third-generation mobile telephone license to be issued in October.
Speaking after the company's annual general meeting, Chief Operations Officer Ciaran Casey said, "We're awaiting judgment. We expect it in early October."
Earlier this year, Smart Telecom secured a High Court injunction against ComReg after the communications regulator withdrew the license from Smart, citing a breach of conditions.
ComReg offered Smart the 3G license last November, but withdrew it in February, saying the company failed to provide the regulator with satisfactory bonds by an agreed deadline of Jan. 30.
In court, Smart Telecom argued that ComReg didn't allow enough time for the company to respond to concerns it had about draft bonds it had submitted to secure the license.
The bonds, totaling EUR100 million, were designed to guarantee that Smart Telecom would meet agreed targets in building the network and providing the service.
Analysts say the estimated 3G cost would be an upfront license payment of around EUR50 million and initial infrastructure costs of around EUR150 million.
Vodafone, O2 Ireland and 3, owned by Hong Kong's Hutchison Whampoa all offer a 3G service.
Earlier Friday, Smart Telecom announced that Oisin Fanning would depart as chief executive and director on health grounds; no immediate replacement was named.
Company Web site: http://www.smarttelecom.ie
-By Quentin Fottrell, Dow Jones Newswires; +353-1-6762189; quentin.fottrell@dowjones.com
(END) Dow Jones Newswires"
Posted to the site on 8th September 2006
Posted to: www.cellular-news.com/story/19237.php