Telecommunication News
- Unicom buys parent's GSM assets
Date: 19-Nov-2007 Sources: (Shenzhen Daily)
CHINA United Telecommunications Corp., the mainland-listed unit of the smaller of the country's two cellular carriers, said Saturday it will buy its parent's network in the southwestern province of Guizhou for 880 million yuan (US$118.5 million).
The purchase of its parent's GSM network and other telecom assets should boost competitiveness and profitability, said the company, which indirectly controls Hong Kong and Shanghai-listed China Unicom Ltd. China United Telecommunications will acquire its parent's Guizhou branch through a unit that is wholly owned by Unicom, it said in a statement.
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