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| China Telecom to takeover five subsidiaries |
| CCTV.COM 2003-07-17 13:07:01 |
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China Telecom said it's ready to invest more than nine billion US dollars to take over five of its subsidiaries. The takeover will be carried out through a combination of cash, securities and A－shares.
The five subsidiaries are Fujian, Chongqing, Anhui, Hunan and Sichuan Telecom. Experts say, the telecom networks in these areas are expected to see fast growth in the coming years, and the takeover will improve China Telecom's overall revenues and business opportunities.
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Editor: Yang Feiyang CCTV.com
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