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Datang Mobile Gets CNY300 Million To Finance TD-SCDMA
December 28, 2005 |
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Comments | Category: Telecom & Wireless
Li Sanlin, a spokesperson from Datang Telecom, has told local media that Datang just received a CNY300 million bank loan from the China Development Bank, the largest single bank loan ever offered by the bank.
Meanwhile, the company is considering introducing more strategic investors to expand its financing channel.
Datang also received a CNY200 million bank loan from China Development Bank in June this year. It will also receive another CNY300 million from the bank in beginning of 2006.
China Development Bank says that the combined CNY800 million loan is provided to Datang to help it with its self-developed projects, particularly TD-SCDMA.
Apart from China Development Bank, Datang is talking about financing with Bank of China and China Merchants Bank in an effort to enlarge its financing channel to help solve funds shortage the company has been facing in recent years.
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