From AP:
China’s biggest mobile phone company will take over a smaller fixed-line carrier, a state news agency said Friday, in what was expected to be the start of a sweeping industry restructuring.
China Mobile Communications Corp. will acquire China Railway Communication, also known as Tietong, the Xinhua News Agency said, citing information from state-owned China Mobile.
Regulators are believed to be preparing a series of mergers that will link up China’s fast-growing mobile carriers with fixed-line partners to invigorate competition. Fixed-line carriers have seen demand slump as new customers opt for mobile service.
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Leo Lewis
