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"Mr Milby has been competing with overseas operators for many years and doing so successfully.
This was the minimum investment required to win one of the four licences on offer.The other three Manila projects are joint ventures with overseas operators.
5.12pm GMT Small print alert: Is the government planning to get small banks, or overseas operators, to make a larger contribution to the industry levy?
The company also developed its own keypad interface for Korean characters.It was also a struggle to get Samsung's handsets accepted as premium products by overseas operators, says Mr Choi.
Over the summer, the combination of a rights issue and the sale of various minority stakes in overseas operators has reduced its debt from £30 billion ($42 billion) to around £17.5 billion.
He also criticises takeover rules that make it easy for companies to be bought by overseas operators: Cadbury's bitterly contested takeover by the US conglomerate Kraft was announced last week to protests from unions fearing job cuts.
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Overseas operations are weak.
The travel industries in Morocco and Tunisia have been helped by inexpensive package vacations from overseas tour operators.
International airports have been built near resort centers and overseas tour operators are courted regularly, most recently at a Havana convention held at the colonial fort of La Cabaña.
It is the first time an overseas news operator has launched a service specifically targeted at British viewers.
In the UK, the Government has this year required overseas-based operators to apply for licences and will start taxing online companies on their British revenue.
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