China Trade Information

China Unicom Ltd said it is looking at plans to incorporate its fixed-line business with similar assets owned by shareholders, representing its larger plan of establishing a unified national network of fixed-line and wireless business, reports Bloomberg.

While downplaying the announcement, the company said the plans are currently at an early stage and therefore can not predict the outcome.

Unicom last month bought China Netcom Group Corp., the dominant fixed-line service provider in 10 northern Chinese cities and provinces, as part of a government plan to let carriers offer wireless and traditional phone services.

Unicom purchased China Netcom in a stock-only transaction, paying 1.508 new shares for each of the fixed-line carrier’s, valuing the acquisition at $16 billion.

Tags: China-Netcom, China-Unicom

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