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Last updated at: (Beijing Time) Thursday, December 19, 2002

Legend Sets Up Telecom IT Arm; Investment Capped at $26 Mln

The Legend Group has set up a telecom IT arm, the Legend Chinaweal System and Service Company. In October, Legend agreed to acquire some business and assets from IT service provider Chinaweal Business Machinery Ltd.


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The Legend Group has set up a telecom IT arm, the Legend Chinaweal System and Service Company.

In October, Legend agreed to acquire some business and assets from IT service provider Chinaweal Business Machinery Ltd.

Sources say Legend will initially pay about 7 million US dollars, while the total amount to be paid will not exceed 26 million US dollars.

President and CEO of Legend Yang Yuanqing says Legend's acquisition of Chinaweal signifies the group's entry into the telecom IT service arena.


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