China pressed ahead with a restructuring of the world’s largest telecoms industry yesterday as Chinese telecommunications carriers announced details of two mega-deals, with a combined transaction volume of more than 500 billion yuan (US$72 billion).
The country’s biggest fixed-line phone operator, China Telecommunications Corp (China Telecom Group) and its listed subsidiary (China Telecom) will pay 110 [...]
China’s telecommunications giants China Unicom and China Netcom, both listed on the Hong Kong stock exchange, announced Monday each share of Netcom will be exchanged for 1.508 Unicom shares in a proposed merger.
The exchange rate was based on the price of China Netcom shares on the Hong Kong mainboard before their suspension from trading on [...]
Revenues, employees, customersâ€â€it is the largest industrial reorganisation ever. And, reflecting how business is done in China, it was announced in the most modest way, with a posting on a government website on May 24th. The country’s telecoms industry, with nearly 600m mobile subscribers, 360m fixed-line customers and $244 billion in revenue, will be reconfigured. [...]
A source in China Netcom management has revealed that in the merger between China Netcom and China Unicom, Unicom will take a leading role. A source inside Unicom revealed that the company will keep the funds from the sale of its CDMA network and users for use in its future development, meaning that the company’s [...]
China Unicom’s initial asking price for its CDMA network business is 120 bln yuan, the Oriental Morning Post reported, citing a company source.
The price is well above the 50-60 bln yuan initially offered by the likely buyer, China Telecom, the Shanghai newspaper said, citing another source close to the negotiations.
Tags: CDMA, China-Netcom, China-Telecom, China-Unicom, GSM
China is expected to announce personnel changes at the four main telecom operators today, likely signalling further action on a long-awaited industry restructuring, portals Sina.com and Sohu.com both reported.
According to the reports, Wang Jianzhou, China Mobile’s chairman and president, will remain in place while Zhang Chunjiang, general manager of China Netcom, will be named vice [...]
