Rumor: Tietong, China Mobile Merger Confirmed
Cctime.com, 1/11/08
A China Tietong insider has confirmed that in meetings with middle management late last year its executives said the operator is to merge with China Mobile (NYSE: CHL; 0941.HK). Staff have been moved in preparation for the change, with some employees shifted back to original positions at the Ministry of Railways' Railway Signaling Company.
After the changes, China Tietong would be managed as a subsidiary by China Mobile, rather than the State-Owned Assets Supervision and Administration Commission (SASAC).
Keywords: China Tietong China Mobile CHL 0941.HK SASAC restructuring telecom wireless
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