Shares in ZTE rose over 9% as speculation grew that the country will soon allow carriers to begin building high-speed 3G networks, a Reuters report said.
Beijing in May unveiled a masterplan to remould its telecoms industry into three giant players and enable the construction of 3G networks, a spending boon for ZTE and other equipment manufacturers such as Huawei, the Reuters report said.
On Friday, Chinese media cited telecoms officials reiterating that Beijing may issue 3G licences before the end of the year.
Other newspapers said China Telecom was about to expand a newly acquired CDMA network, a move Goldman Sachs reckoned could result in up to 4.2 billion yuan ($616 million) in contracts for ZTE in 2008.
Source:telecomasia.net
