China Netcom Optimistic on 3G Licences – Justine Lau

From Financial Times:

Zuo Xunsheng, China Netcom chief, on Tuesday said he expected China to issue third-generation mobile licences as early as the first quarter of 2007.

He reiterated that Netcom would definitely receive a licence to expand into mobile telephony.

“We will get a licence, perhaps next year’s first quarter,” said Mr Zuo.

His comments sent the company’s shares in Hong Kong up 8.5 per cent to HK$16.16. Rival China Telecom‘s shares surged 15.6 per cent to HK$4.01 on expectations that it would also receive a 3G licence. [Full Text]

December 5, 2006, 7:38 PM
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Categories: Economy