German mobile network operator MobilCom has said that it will probably surrender its 3G license – and that heavy restructuring costs will hit its Q3 profits. MobilCom has already started developing its 3G network and has 900 base stations fully equipped with UMTS transmission facilities.
The operator, in which France Telecom has a controlling stake, made a loss of E173 million in Q2, up from a Q1 loss of E116 million. The losses are attributed to exceptional write-offs and the creation of reserves totaling around E150 million.
That news broke the day after MobilCom announced it would sue Millennium. It is claiming back the E70.9 million it paid to acquire shares for an option scheme that were never delivered.