From Financial Times:
China’s two fixed-line telephone operators have sealed a deal intended to limit competition and leave each in control of its core markets, according to a company official and local media.
The deal between the parent companies of China Telecom and China Netcom highlights contradictions of interest inherent in the country’s state-controlled but foreign-invested telecommunications sector.
China’s four fixed-line and wireless operators were carved out of the former telecoms monopoly to create a competitive industry. All are internationally listed.[Full Text]