China Unicom Corp., Ltd. (600050. SH), the parent company of Hong Kong listed China Unicom Ltd. (0762. HK; CHU.NYSE), has launched the assets checkup of CDMA, and the final selling price might change, according to Oriental Morning Post.

Upon completion of the checkup, China Unicom and China Telecom (0728.HK; CHA.NYSE) will achieve a final agreement before July 25, finish the assets delivery within 60 days, and make the second-phase payment.

The final selling price of CDMA service depends on its 2008 semi-annual report, and if the income is lower than 98 percent of the expectation, every cut of 1 percentage point will abate one percent of original price, which is 43.8 billion yuan.

Lao Jianhua, secretary of president of China Unicom, explained that although the two companies agreed with the price of 43.8 billion yuan for CDMA service, the price is based on the precondition that corresponding requirements must be satisfied first, one of which is to prevent the nose-dive of the subscribers of CDMA business before the delivery.

Besides, 29.3 percent of China Unicom?s staff will be transferred to China Telecom according to the income proportion of CDMA to China Unicom.

Source:Xinhua