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China Netcom Plans CNY$30 Billion Purchase
September 12, 2005 |
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China Netcom is planning to spend as much as CNY$30 billion to purchase the assets of four provincial affiliates of its parent company, the China Netcom Group.
China Netcom started consultations with its parent company on the purchase as early as April this year. It reportedly plans to buy China Netcom Group's fixed telecom assets in the four provinces of Heilongjiang, Jilin, Shanxi and Inner Mongolia.
China Netcom should announce the acquisition details early this week.
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