3 to double subs in four years

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3 UK is aiming to double its subscribers to number around 6.8 million by 2012, according to chief executive Kevin Russell.

In an interview with the Financial Times, Russell said that over the next four years, he wanted to double the business’s revenue and its customer base.

According to the latest figures from Hutchison, 3 UK had 3.4 million active customers at the end of last year, and the business generated £1.6 billion of revenue in 2007, up five percent on 2006.

However, the figures show that the operator reported a pre-tax loss of £840.7 million in 2006. It claims that profitability has been affected by the termination rates it pays other operators to connect its calls. Russell is expected to give evidence on Friday to the UK’s Competition Commission, which is holding an inquiry into termination rates, which 3 is looking to abolish.

 

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