<- January 17, 2008 ->

Rumor: China Mobile to Keep Tietong Separate from Listed Firm

South Metropolitan News, 1/17/08

A China Tietong business partner has revealed that the firm is set to merge with China Mobile (NYSE: CHL; 0941.HK), with the proposal now submitted to the State Council for approval. After the merger, Tiegong will operate independently as a fixed-line and broadband provider rather than being absorbed into China Mobile's listed company. In 2007, income from both Tietong's public fixed-line and broadband business and its railway communications services grew by 30%.

Keywords: telecom, M&A, restructuring, broadband, China Mobile, CHL, 0941.HK, China Tietong, railway, State Council, wireless

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