China United Communications Corporation (Unicom Group), the parent company of China Unicom (0762. HK; CHU.NYSE), has announced that it will select its senior managers mainly from present ones in Unicom Group and China Network Communications Group Corporation (China Netcom Group), the parent company of China Netcom (0906.HK; CN.NYSE).

Besides board chairman Chang Xiaobing, there will be three vice presidents in the Unicom Group, including Tong Jilu, Li Gang and Zhang Jun'an, and a discipline inspection team leader, Miao Jianhua. Chang has been officially named as the board chairman and CEO of the new Unicom Group.

In the China Netcom Group, there are seven senior administrators, including Lu Yimin, Zuo Xunsheng, Li Jianguo, Pei Aihua, Zhao Jidong, Li Fushen and Jiang Zhengxin.

Unicom Group revealed that the integration work of the two companies will be started as soon as their merger becomes formally effective, and will be finished within one year.

In addition, China Netcom Group Corporation (BVI) Limited and Telefonica de Espana made irrevocable promises that they will vote to approve the merger. But the attitude of Unicom Group's strategic investor SK Telecom is unclear.

Source:Xinhua