China United Telecom Sells Paging Business To Satcom

January 12, 2004 | Print | Email Email | Comments | Category: Telecom & Wireless



    China United Telecommunications Corp., plans to complete its exit from the paging sector by selling its business to China Satellite Communications Corp., the smallest of China's state-owned telecommunications companies.

    Pagers have in recent years become much less desirable due to the mobile phones becoming increasingly cheap, fashionable and widely available.

    China Satcom is primarily a satellite operator but has recently begun diversifying its interests. The paging unit, Guoxin Paging, will sell its 59% interest in its own listed unit, Unicom Guomai Communications Co., to China Satcom. Within six months of that deal's completion, China Satcom will take over Guoxin's national paging network and operations. China Satcom will pay 677.3 million yuan for the stake in Unicom Guomai, according to an announcement Friday. The transaction is still subject to regulatory approval.

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