China Telecom and China Unicom will wind up the delivery of the CDMA network from the latter to the former in 60 days beginning from October 1, according to China Telecom's announcement.

Besides, China Telecom committed not to make significant adjustment to the CDMA business and the related staff, including employment relationship, position and salary level.

The specific assets under the deal include the account bill of China Unicom and all the users with the phone number bands of 133 and 153, the transmitting equipment of CDMA business, the common-use assets of CDMA network, related property rights, the handsets of CDMA business, related machine rooms and equipments, IT system and network equipment as well as the related movables and real properties.

According to the announcement, 70 percent of the total payment would be made at the delivery day or within the following three days, 20 percent would be paid with three days after delivery and 10 percent, before March 31, 2009.

Source:Xinhua