Telecommunications firm Pacnet said it had signed a joint venture with China-based firm Zhong Ren Telecom, to offer Internet protocol services to Chinese companies and expand its presence in the country.
Pacnet and Zhong Ren Telecom will each hold a 50 percent stake in the joint venture, Pacnet Business Solutions Ltd, Pacnet said in a statement on Thursday.
The statement did not disclose financial details.
Pacnet, formed from China Netcom's former Asia Netcom unit and Singapore Internet services provider Pacific Internet, teamed up with a group of companies including Google Inc and Singapore Telecommunications Ltd in February to build a trans-Pacific undersea cable.
Source:Reuters
