Stocks News
- Datang Mobile stake
Date: 13-Dec-2007 Sources: (Shenzhen Daily)
PICC Property and Casualty Co., China's top non-life insurer, had agreed to spend 1.5 billion yuan (US$202.71 million) to buy a stake in telecom equipment maker Datang Mobile, the Shanghai Securities News said yesterday.
The strategic agreement, between a unit of PICC and Datang Mobile, part of Datang Telecom Technology Co., would help boost competitiveness and the development of China's third-generation wireless standard, the newspaper quoted company officials as saying.
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