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China Telecom To Sell $1 Bln In Stock?
March 3, 2004 |
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China telecom, China's fixed-line phone company, may raise as much as 1 billion US dollars by selling stock and bonds in order o to help finance its business.
This sale would include new Class H shares, which are traded in Hong Kong, American depositary shares and bonds that can be converted into the company's stock. China Telecom paid 5.6 billion dollars in cash last year to buy six provincial phone networks from its state-owned parent and is in talks to buy more networks from China Telecommunications Corporation. The purchase could be worth as much as 7.7 billion dollars.
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