Telecommunication News
- Telecom carriers eye domestic listings
Date: 8-Jan-2007 Sources: (Shenzhen Daily)
CHINA Mobile, China Telecom and China Netcom plan to list shares domestically this year, seeking capital to build the next generation of mobile phone services, media reported.
The government is expected to issue 3G, or third-generation, mobile network licenses in the first quarter of 2007, a move that equipment makers such as Ericsson and Qualcomm hope will trigger a US$10 billion spending spree.
China Telecom, the mainland's largest fixed-line operator, had not announced listing plans but insiders said it was talking with investment banks to raise US$5.13 billion in the second quarter, Xinhua said Saturday.
China Mobile was likely to be first to list A shares, with China Telecom and China Netcom following close behind, Xinhua quoted analysts as saying.
Listings by some of China's biggest firms, along with structural and regulatory reform, have revived investor interest in the domestic stock markets after a four-year slump.
The country's bellwether index, the Shanghai Composite Index, soared 130 percent in 2006, making it the world's best-performing major market.
Third-generation mobile phone service will provide multimedia services including voice, data, video and wireless Internet access.
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