Netcom Issues More Details on Restructuring
Sina Tech, 11/12/07
The Netcom Group's listed company China Netcom (NYSE: CN; 0906.HK) has issued a statement revealing that the "China Netcom Group is currently carrying out a restructuring. Some subsidiaries offering auxiliary services may be sold off, and the assets and services which the China Netcom Group can lease to China Netcom will reduce.
China Netcom expects that the engineering and IT services provided by the China Netcom Group will expand over the next three years, and that China Netcom will spend up to RMB 4.4 bln on purchasing these services from 2008 to 2011.
Keywords: China Netcom CN 0906.HK telecom restructuring
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