China Telecom to Pay $15.9 Bln for Unicom's CDMA (Jun 2)

2008-06-02 17:16:31 Bloomberg/CRIENGLISH.com

China Telecommunications Corp., the country's biggest fixed-line phone company, will pay 110 billion yuan ($15.9 billion) for part of China United Telecommunications Corp.'s mobile-phone assets in a government industry revamp.

China Telecommunications will buy China United's code- division multiple access network for 66.2 billion yuan, and will pay 43.8 billion yuan for its subscribers, the fixed-line carrier said in a statement to the Hong Kong stock exchange Monday. Trading of the company's shares, suspended in Hong Kong since May 23, will resume Tuesday, the China Telecom said.

For more reading: http://english.cri.cn/3130/2008/06/02/189@364552.htm


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