Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

China Telecom Solicits Outside Investment for Subsidiaries

Tencent Tech, 5/13/14

At a recent conference held by China Telecom (NYSE: CHA; 0728.HK) in Beijing, Li Anmin, head of China Telecom's innovation business unit, revealed that the company will actively seek private investment in China Telecom subsidiaries involved in emerging telecommunication sectors in an effort to promote mixed-ownership reform. The company will give priority to its social networking, incubation, internet application, and government and enterprise related subsidiaries.

China Telecom announced at the conference that the company's Animation Center and Mobile App Store subsidiaries will be spun off as independent companies, namely "Tianyi Aidongman Culture and Media" and "Chengdu E-Surfing Space Technology," respectively. Of China Telecom's 8 vertical service bases, 6 have now been spun-off into independent companies. In addition to the two aforementioned vertical service bases, the company's Video Center, Gaming Base, and Enterprise Communications Portal (ECB) base have all attracted outside investment. China Telecom's E-Surfing Reading Culture Communication subsidiary began soliciting strategic investment in Q1 2014.

In 2014, China Telecom will select 2-3 of its subsidiaries to enter into financing agreements with third-party investment enterprises, including the company's Best Tone Information Service advertising services subsidiary.

Keywords: Li Anmin China Telecom financing investment telecom Best Tone 0728.HK CHA spin-off

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports