China Telecom Operates Satcom Customer, Billing Services

China Business News, 3/31/09

A spokesperson for China Telecom (NYSE: CHA; 0728.HK) yesterday confirmed that from April 1, the company will provide customer services and billing for China Satcom through its service kiosks and its 10000 directory service number. At the same time, China Satcom will stop providing these services through its own service hotline and kiosks.

A spokesperson for China Satcom stated that the company received regulatory approval to merge its core telecom services (with the exception of satellite transmission and sales) with China Telecom. Satcom has not yet gained approval for its stake in the publicly listed China Satcom Guomai Communications to be transferred to China Telecom. The status of Satcom employees has also not yet been decided.

Editor's Note: China Satcom Guomai Communications revealed at the end of 2008 that its controlling shareholder, China Satcom, planned to transfer over 200 mln shares, or approximately 50% of Guomai's stock, to China Telecom.

Keywords: M&A 0728.HK CHA China Satcom China Telecom Satcom Guomai satellite telecom investment

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