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Operators Confirm Management Changes, Restructuring

Tencent Tech, 5/26/08

China Mobile (NYSE: CHL; 0941.HK), China Unicom (NYSE: CHU; 0762.HK; 600050.SH), China Telecom (NYSE: CHA; 0728.HK), China Netcom (NYSE: CN; 0906.HK), and China Satcom issued a joint public notice yesterday confirming management changes and saying that discussions on restructuring are underway.

China Telecom said that it was in the process of talks with China Unicom regarding the sale of its CDMA network, including all of its assets and users. China Netcom said that it was in talks with China Unicom regarding the merger.

At the same time, China Unicom, China Telecom, and China Netcom's Hong Kong-listed companies and China Unicom's A-shares will, as of Monday, continue the freeze begun on Friday, May 23.

Editor's Note: For more background on the new management changes among China's operators, please see "China Mobile Absorbs Tietong, Announces Industry Restructuring", MD 5/23/08 issue.

Keywords: 0728.HK 0762.HK 0906.HK 0941.HK 600050.SH CDMA CHA China Mobile China Netcom China Satcom China Telecom China Unicom CHL CHU CN restructuring telecom wireless

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