From Caijing Magazine:
China Telecom Co. Ltd. (HKSE: 00728), China’s largest fixed-line carrier, announced July 31 that its parent company China Telecom will conclude the takeover of China Unicom’s Code Division Multiple Access (CDMA) mobile network before December 31, under the country’s recent reshuffle plan of telecom industry.
China Telecom said in a statement that the company will sign agreements concerning the transaction details with all of China Unicom’s subsidiaries by August 15.
“(The progress) will be even faster than expected.” said a senior manager from China Telecom’s Guangdong subsidiary.
