Unicom, Netcom Parent Companies to Complete Merger in January 2009

China Unicom Press Release, 11/17/08

China Unicom (NYSE: CHU; 0762.HK; 600050.SH) has announced that its mainland parent company China United Telecommunications Corporation plans to merge with China Network Communications Group Corporation, the mainland parent company of China Netcom. The planned merger is expected to become effective in early January 2009.

Unicom also announced that an investigation into the future development and direction of the fixed-line business and assets owned and operated by its major shareholders is still underway.

Keywords: M&A restructuring 0762.HK 600050.SH China Netcom China Network Communications China Unicom China United Telecommunications Corporation CHU telecom wireless

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