China Telecom buys six provincial networks for 5.5 billion dollars

AFP reporting from Hong Kong: China Telecom Corp Ltd., the Chinese mainland’s largest fixed-line telephone operator, has agreed to buy six provincial networks from its parent for 46 billion (5.5 billion US dollars) to boost revenue and expansion, the firm said.

China Telecom said in a statement that it will take over networks in Anhui, Fujian, Jiangxi, Guangxi and , as well as in the city of , from parent China Telecommuniations Corp., which owns 77.78 percent of China Telecom.

Source at Channelnewsasia.com

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