China Unicom in restructuring talks with China Telecom, Netcom
Updated:2008/5/26 11:01
China Unicom said it is in talks with fixed line network operators China Telecom and China Netcom about merging operations and disposing of businesses.
The disclosure follows Saturday's unveiling of China's long-waited telecommunications industry restructuring plan, which calls for China Telecom to take over the CDMA mobile network operations of China Unicom.
Meanwhile, the remainder of China Unicom, mainly its GSM network, are expected to merge with China Netcom.
China Unicom said its H-shares and Shanghai A-shares will remain suspended from trading. China Telecom and China Netcom also announced today that their H-shares will remain suspended.
China Mobile, the world's biggest mobile network operator, announced on Friday that it will absorb China Tietong Telecommunications Corp, a small telecommunications company that has fixed line operations.
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