China Unicom to acquire parent's assets in Guizhou
(Agencies)
Updated: 2007-11-19 11:06
China Unicom Ltd said its wholly-owned unit China Unicom Corp Ltd (CUCL) has entered into an agreement to acquire various telecom assets in Guizhou of parent, China United Telecommunications Corp (Unicom Group), for 880 million yuan (about US$119 million).
The assets to be acquired by CUCL include the GSM cellular telecommunication assets and business and the CDMA cellular telecom business of Unicom Group's branch in Guizhou.
Following the acquisition of the Guizhou assets, CUCL's cellular telecommunications business operations will be expanded to cover all provinces, cities and autonomous regions in China, thereby increasing CUCL's customer base and mobile services subscriber accounts.
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