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China Unicom's CDMA Business Sold to China Telecom
Posted on June 03, 2008
China United Telecommunications Corp.'s (China Unicom) (CHU) CDMA business has been sold to China Telecommunications Corp. (China Telecom) (CHA) for RMB 110 billion ($15.85 billion), according to announcements made today by the companies' respective listed arms, China Unicom Ltd and China Telecom Corp. Ltd. The deal was divided into the sale of CDMA services and the sale of CDMA infrastructure. An agreement to sell China Unicom's CDMA services for RMB 43.8 billion ($6.31 billion) was signed between China Unicom (HK), China Unicom Corp. Ltd. - its wholly-owned subsidiary that operates its CDM...
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