World Business Quick Take

■ Internet
Hotmail goes mobile on `3'
Microsoft Corp formed a partnership with Hutchison Whampoa Ltd (和記黃埔), owner of the "3" wireless networks, to offer e-mail and text chat services over mobile phones. 3 Group's customers, numbering almost 12 million globally, will be able to use Microsoft's MSN Messenger, as well as read and send Hotmail e-mails using their mobile handsets, the companies said in an e-mailed statement yesterday. Hutchison Whampoa, the holding company controlled by Hong Kong billionaire Li Ka-shing (李嘉誠), has so-called third-generation network licenses in 10 countries, including Italy, the UK, Sweden and Denmark. Such networks allow users to download music, hold video conferences and surf the Internet.

■ Wireless
Wavecom to buy Sony unit
Wavecom SA, a French maker of wireless components, agreed to buy a components unit from Sony Ericsson Mobile Communications AB for as much as 32.5 million euros (US$39.6 million) in cash. The shares had their biggest gain since September. Wavecom plans to buy the Sony Ericsson unit that makes parts and software for wireless machine-to-machine communications, the company said yesterday. Sony Ericsson is the world's No. 5 mobile-phone maker. The acquisition marks the first combination of two major players in wireless machine-to-machine communications and can accelerate adoption of industry standards, Wavecom chief executive Ron Black said in the statement. Wavecom is paying about a fifth of its own market value for the Sony Ericsson unit.

■ Microchips
EU reviews Hynix tariffs
The European Commission could raise or end tariffs on South Korean microchip maker Hynix Semiconductor Inc after it launched a review of the 34.8 percent duties it imposed to counter government subsidies. The EU executive said in a notice published on Saturday that there was enough evidence to show that South Korean subsidies to Hynix had changed significantly. Hynix has argued that the tariffs should be dropped, because the government grants that caused competitors to complain in 2001 no longer exist. However, EU regulators said European producers Infineon Technologies AG and Micron Europe Ltd claimed that the tariffs were not high enough. Infineon and Micron claim that Hynix benefits from numerous subsidies, including debt roll-over, a debt-to-equity swap, loans by government-owned or directed banks to finance asset transfers, a capital write down plan, a cash-buyout plan, term loans and a revolving credit agreement.

■ Banking
KEB union favors DBS
The labor union of Korea Exchange Bank (KEB) said yesterday it supported the bid by the DBS group of Singapore to become the new owner of South Korea's fifth-largest lender. DBS is competing with South Korea's largest lender, Kookmin Bank, and its rival Hana Financial Group to acquire a controlling 51 percent stake from US fund Lone Star. Lone Star acquired the stake for 1.38 trillion won (US$1.4 billion) in October 2003. The deal is expected to be the country's biggest sale in the sector. "DBS is not the best option, but the second-best we can opt in reality," the union said in a statement.