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Rumor: Telecom Restructuring Plan May Be Announced by June

Shanghai Securities News, 4/16/08

An industry source has revealed that an announcement on telecom industry restructuring "could well" happen during H1 of this year, with the corresponding senior management arrangements to be announced at the same time. The source also revealed that China Telecom (NYSE: CHA; 0728.HK) is continuing under tight secrecy with its bid to purchase China Unicom's (NYSE: CHU; 0762.HK; 600050.SH) CDMA network, with a specific valuation of the network the key point in negotiations. China Telecom has already completed preparations for the purchase, and the split-off of Unicom's CDMA network should be coming some time in the near future.

A month ago, Huawei and ZTE (0763.HK; 000063.SZ) established dedicated CDMA teams working in secret with China Telecom in order to provide network bridges and upgrades following Telecom's purchase of Unicom's CDMA network.

Keywords: timetable 000063.SZ 0728.HK 0762.HK 0763.HK 600050.SH CDMA CHA China Telecom China Unicom CHU Huawei restructuring telecom ZTE wireless

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