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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