National Business Daily, 4/10/08
China Communications Services Corp (CCS) (0552.HK) has announced that stockholder Wang Xiaochu, the CEO of China Telecom (NYSE: CHA; 0728.HK), will resign from his position as director of CCS, and will appoint CCS vice-director and CEO Li Ping as acting director for the company.
Analysts say that the reason for Wang's departure from CCS was a desire to "pacify" CCS' other two major clients, China Mobile (NYSE: CHL; 0941.HK) and China Unicom (NYSE: CHU; 0762.HK; 600050.SH). CCS and China Telecom spokespeople would not comment on this in a review with the National Business Daily yesterday.
Editor's note: An industry insider has revealed that China's State-owned Assets Supervision and Administration Commission (SASAC) is considering having China Mobile and Unicom take stakes in the newly emerged telecom engineering giant.
Keywords: Li Ping wireless 0552.HK 0728.HK 0762.HK 0941.HK 600050.SH CCS CHA China Communications Services Corp China Mobile China Telecom China Unicom CHL CHU SASAC telecom telecom engineering Wang Xiaochu