Fixed-line move
Print Edition
CHINA’S largest wireless carrier China Mobile yesterday said it planned to acquire its sister company’s fixed-line telecom business for 31.88 billion yuan (US$5 billion) to help boost its presence in that business in China.
CM TieTong, the telco’s wholly owned subsidiary, said it has agreed to buy the fixed-line telecommunications business from TieTong, which has over 10 million fixed broadband and fixed-line customers across China, according to a China Mobile filing to the Hong Kong stock exchange. The payment will be funded by China Mobile’s internal resources, the company said.
China Mobile had said earlier this year that it planned to acquire TieTong’s fixed-line telecom sector, which would give China Mobile access to its extensive nationwide backbone network, metro fiber and land assets.
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