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China Telecom to Get Listed in US & Hong Kong Stock Market
Resources from Information Industry revealed that China Telecom would get the license of mobile phone operation this year and that China Telecom planned to get listed in the US and Hong Kong stock markets next year.
China Telecom will peel off its minor business as soon as possible to be accord with the requirement of the listing. China Telecom has a staff of 500,000 people at present, among which up to 200,000 employees are estimated to leave the main business sector for the service industry sector. Furthermore, China Telecom will strive to get the license of mobile phones as early as possible because it is essential for the listing.
At the moment, only two companies in mainland China operate business in mobile phones, which are China Mobile and China Unicom. These two companies have both got listed in stock market. However, the former business scope of China Telecom was restricted in wire phone. It is predictable that China Telecom¡¯s joining into the mobile phone business will intensify competitions of this field.
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