Update: China Telecom Spins Off Mobile Reading Base

Netease Tech, 11/22/12

China Telecom's (NYSE: CHA; 0728.HK) mobile reading subsidiary E-Surfing Reading Culture Communication was officially established on November 22, signaling that the company has been spun off as an independent arm of China Telecom. The spin-off of China Telecom's E-Surfing Reading Culture Communication follows the successful spin-offs of its mobile gaming portal E-Game (Ai Youxi) and its E-Surfing Video portal.

According to Wu LingXi, of China Telecom’s Business Innovation Division, the goal of E-Surfing Reading is to become listed and attract outside capital investments.

Editor's Note: For more background on this topic, please see "China Telecom's Mobile Reading Base Aims for Future IPO" MD 11/01/12 issue and "China Telecom Spins off Mobile Reading Base" MD 8/31/12 issue.

Keywords: mobile literature spin-off Wu Lingxi China Telecom wireless 0728.HK CHA

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