Home China Headline Homegrown 3G targeted

Homegrown 3G targeted

Datang Telecom Technology Co may receive four billion yuan (US$516 million) in government funding to help it provide domestically developed third-generation mobile phone services, the 21st Century Business Herald reported yesterday. The State Council's State-Owned Assets Supervision and Administration Commission is studying ways to restructure the company, including the injection of assets, new funding and paying off debt, the paper reported, citing an unidentified source. China Mobile also invested three billion yuan in Datang, according to earlier media reports. Liu Le, Datang Telecom's spokesperson, could not be reached for comment yesterday. Analysts expect Datang Mobile's assets will be injected in Shanghai-listed Datang Telecom, which focuses on fixed-line and fiber optical products. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

< Prev		Next >