China Telecom plans to purchase at least six networks

China Telecom plans to purchase at least six networks

China Telecom, The Hong Kong-listed firm , has conducted initial contacts to purchase at least six networks from its parent. The deal is projected to cost some US$7 billion.

China’s biggest fixed-line carrier said in a statement to the Stock Exchange of Hong Kong that it has started talks with the parent company to buy assets located in Anhui, Fujian, Jiangxi, Guangxi, Chongqing city and Sichuan.

China Telecom currently operates fixed line services in Shanghai and the provinces of Guangdong, Jiangsu and Zhejiang.

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