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China Netcom To Fight China Telecom With $750 Million
October 25, 2004 |
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Comments | Category: Telecom & Wireless
China Netcom announced last week that they expect to collect $1.5 billion in their first IPO, 50% of which will be used to build a new communications network.
Netcom is reportedly taking this action to increase their competitiveness in order to stave off the challenge posed by China Telecom.
In a document submitted to the US Securities Exchange Commission, Netcom declared that it would provide a profit bonus as high as 40% to its investors.
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