Who Are the Winners in China's Telecom Reshuffle? (Jul 8)

In June, China Telecom, China Unicom, and China Netcom announced detailed restructuring plans that will change the landscape of China's telecom industry. Fixed-line operator China Telecom will acquire China Unicom's CDMA business with cash. China Unicom's remaining GSM assets will merge with fixed-line operator China Netcom in a stock exchange to form the new China Unicom. For China's dominant mobile operator China Mobile, there is little structural change other than its parent company's acquisition of China Railcom, a relatively small fixed-line operator.

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