Dr. Peng to Acquire Remaining 50% of Great Wall Broadband
Oriental Morning Post, 11/06/12
In a November 5 public filing, Chengdu-based telecom services provider Dr. Peng Telecom & Media Group (600804.SH) announced that it will spend up to RMB 750 mln in cash to acquire 50% of Great Wall Broadband Network Service. Currently, Dr. Peng and CITIC Networks each hold 50% of the company.
The filing stated that Great Wall Broadband had broadband network coverage in more than 30 large and medium-sized cities around China as of August 31, 2012, covering nearly 16.92 mln households with more than 3.19 mln subscriber households. Dr. Peng said that following its acquisition, it will greatly increase both potential and actual subscriber coverage for its personal broadband service.
As of August 31, 2012, Great Wall Broadband had total assets of RMB 2.72 bln and total liabilities of RMB 2.834 bln.
Editor's Note: For more background on this topic, please see "Dr. Peng to Wholly Acquire Great Wall Broadband in Q3 2012" MD 6/05/12 issue.
Keywords: broadband telecom CITIC Networks Great Wall Broadband Dr. Peng 600804.SH M&A
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