China Tietong Networks to Be Split by Year-End

CCTIME, 11/12/09

Industry sources have said that the State Owned Assets Supervision and Administration Commission (SASAC) and other authorities have agreed to plans to split China Tietong's public and private networks, and have ordered the split to be finished by the end of the year. According to the plans agreed to by China Tietong and China Mobile (NYSE: CHL; 0941.HK), after the separation of the networks, China Mobile will take control of the resources and personnel involved in Tietong's public network operations, while its private network operations will be transferred to the Ministry of Railways. Tietong's public network employees will assist China Mobile in establishing fixed-line telephone services.

Keywords: corporate restructuring China Mobile China Tietong Ministry of Railways SASAC CHL 0941.HK HR fixed-line

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