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SASAC, SK Telecom in Talks about Unicom

China Business News, 1/15/08

The State-owned Assets Supervision and Administration Commission (SASAC) has held a meeting with Korean firm SK Telecom to discuss China Unicom (NYSE: CHU; 0762.HK; 600050.SH). According to an informed source, the talks covered organizational changes and audits of results at China Unicom, but no details were revealed. SASAC is to meet SKT again in the future.

The industry currently expects Unicom's GSM and CDMA networks to be split as part of a telecom industry shakeup. SK Telecom is Unicom's second largest shareholder, and thus has a vote on any proposal.

Keywords: SASAC China Unicom CHU 0762.HK 600050.SH SK Telecom restructuring GSM CDMA corporate restructuring wireless

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