Asia Netcom and China Netcom Corporation International today announced that China Netcom (CNC) has purchased full control of Asia Netcom, a company founded in March 2003 by a consortium lead by CNC which included Newbridge Capital and Softbank Asia Infrastructure Fund.

In its first year of operation, since the consortium took over key assets of the former Asia Global Crossing, Asia Netcom has grown from a virtually unknown entity to one of Asia Pacific's leading providers of IP-based network solutions.

Since its launch last year, Asia Netcom's business has been managed as a stand-alone entity and will continue to do so as there are no immediate plans to fully integrate Asia Netcom into China Netcom's mainland operations. Asia Netcom is a provider of city-to-city connectivity, data communications and IP-based solutions and services to enterprise, ISP and carrier customers in the Asia Pacific region. Asia Netcom owns and operates its own 19,500-km regional fiber optic submarine cable system and offers a portfolio of enterprise and carrier services that connect Asia to the rest of the world, while providing global corporations direct access to key markets in Asia and China.