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Anti-monopoly probe against China Telecom, China Unicom
By Zhang Fengming |
November 9, 2011, Wednesday
|
Online Edition
Online Edition
CHINA'S top economic planning agency is reportedly investigating the country's top two telecommunications companies -- China Telecom and China Unicom -- on suspicion of monopolizing the Internet access segment.
If found guilty, the two companies may face billions of yuan in fines.
The National Development and Reform Commission started the investigation in the first half of this year after receiving complaints that the two companies were blocking other corporations from entering the broadband market with their dominance, the China Central Television reported, quoting a commission official.
The two companies jointly controlled two-thirds of the broadband access market, Li Qing, deputy head of the anti-monopoly bureau under the NDRC, told CCTV.
The two companies may face fines equivalent to 1 percent to 10 percent of their Internet access revenues. China Telecom's revenue from the Internet access business sat at 50 billion yuan (US$7.9 billion), while China Unicom's online revenue was close to 30 billion yuan, Li said.
If found guilty, the two companies may face billions of yuan in fines.
The National Development and Reform Commission started the investigation in the first half of this year after receiving complaints that the two companies were blocking other corporations from entering the broadband market with their dominance, the China Central Television reported, quoting a commission official.
The two companies jointly controlled two-thirds of the broadband access market, Li Qing, deputy head of the anti-monopoly bureau under the NDRC, told CCTV.
The two companies may face fines equivalent to 1 percent to 10 percent of their Internet access revenues. China Telecom's revenue from the Internet access business sat at 50 billion yuan (US$7.9 billion), while China Unicom's online revenue was close to 30 billion yuan, Li said.
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