Finance / China
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China Unicom In Latest Restructuring Shake-Up
June 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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After a prolonged wait, the restructuring of China's telecoms industry is finally started in full swing with China Unicom, the country's second largest mobile operator, agreeing to pay US$23.9bn for the assets of fixed-line operator China Netcom. This was followed with the sale of China Unicom's CDMA unit to China Telecom, the leading fixed-line operator, at a cost of US$15.9bn. The announcement has not thrown up any surprises, with China Mobile in late May 2008, acquiring third-ranked fixed-line operator China Tietong Telecommunications Corporation.