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Rumor: China Telecom Will Acquire China Unicom's C Net
January 30, 2008 |
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| Category: Telecom & Wireless
China Telecom (CHA) is reportedly making great efforts in promoting its C Net program. According to a representative from the fixed telecommunications service provider, China Telecom is in frequent contact with the top management of China Unicom while it is also busy recruiting talent of CDMA network.
A representative from China Telecom disclosed that since last year, China Telecom has been focusing its eyes on the acquisition of China Unicom's C network. The person said China Telecom had had many contacts with China Unicom and the basic issues regarding the acquisition had been settled.
Industry insiders predicted in local media that China Telecom would announce the acquisition of China Unicom's C network in the middle of March, and complete the fund settlement of C network between March and August. They said that China's telecom industry restructure would be done in September when China Unicom would be merged with China Netcom and China Mobile would amalgamate China Tietong.
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