China Telecom Expects HKSE Listing Later This Year

Home>>Business

Last updated at: (Beijing Time) Friday, February 22, 2002

China Telecom Expects HKSE Listing Later This Year

China Telecom, which has been divided into northern and the southern companies, is expected to be listed on the Hong Kong Stock Exchange in the latter part of this year. Morgan Stanley, Merril Lynch Capital Markets and China International Capital Corporation Limited will make joint efforts to help China Telecom to achieve the listing.

DISCUSSION

CHINESE

SEND TO FRIEND

China Telecom expected to be listed

China Telecom, which has been divided into the northern and southern companies, is expected to be listed on the Hong Kong Stock Exchange in the latter part of this year, sources say.

The company will first choose telecom companies from Shanghai and Jiangsu, Zhejiang and Guangdong provinces, which have optimized assets, for listing on the Hong Kong Stock Exchange, according to Wednesday's edition of Beijing Morning Post.

Financial giants to give a hand

The paper said that Morgan Stanley, Merril Lynch Capital Markets and China International Capital Corporation Limited will make joint efforts to help China Telecom to achieve the listing. Finance involved is estimated to be 5 billion U.S. dollars.

The paper quotes sources as saying that examination and verification of the assets to be listed will be completed by June this year.

Sources also say that as well as China Telecom, several other companies such as the Bank of China may also be listed in Hong Kong in the second half of the year.

Three stages of China's Telecom Reform

The first step for telecom reform is a "horizontal cut", that is, to separate enterprise from government administration. The second step is "vertical" in the way competition is to be encouraged among telecom enterprises. Policy support will be given to new enterprises; monopoly and unfair competition by old enterprises will be prevented. The third step is to be introduced a mechanism of competition by Chinese enterprises with foreign counterparts in China. >>details

Questions?Comments? Click here

Chinese Telecom Industry to Undergo Major Restructuring

China Revising Regulations on Information Industry: Minister

Mobile Phone Users in Shandong Province Totals 6 Million

>> Full Coverage