Hutchison Communications (Australia) has agreed to provide a loan of up to AU$196 million to Hutchison Telecommunications (Australia) to help pay for spectrum licences.
Tycoon Li Ka-shing's company said in a statement, the unsecured loan facility was to provide short term funding to the Australian mobile phone group for the acquisition of spectrum licences in the 2100 megahertz band in Sydney, Melbourne, Brisbane, Adelaide and Perth.
It said the spectrum would be used for a high speed data network.
Hutchison Communications (Australia) is an indirect wholly owned unit of the Hong Kong-based conglomerate, while Hutchison Telecommunications (Australia) is indirectly owned by Hutchison Whampoa (57.8 percent).
