In Major Shakeup, China’s Govt. Melds Six Largest Telecoms into Three

There are three new kings in China’s $100 billion-plus telecom kingdom: China Telecom Corp. Ltd. (ADR: CHA) , China Network Communications Group Corp. Ltd. (ADR: CN) and China Mobile Ltd. (ADR: CHL) . Not surprisingly, all are state controlled. But now that the first two have more assets, the up-to-now dominant China Mobile faces increased competition and a more-level playing field. The government of China announced this major shakeup in the country’s burgeoning telecommunication industry over the weekend. It’s a massive restructuring that’ll fold the country’s top six telecom companies into three, and possibly open the way to windfall profits for wireless-equipment providers. “Everyone has been… SHARETHIS.addEntry({ title: "In Major Shakeup, China’s Govt. Melds Six Largest Telecoms into Three", url: "http://jutiagroup.com/2008/05/28/in-major-shakeup-china%e2%80%99s-govt-melds-six-largest-telecoms-into-three/" });