TELECOM RESTRUCTURING TAKES FLIGHT

China Netcom has proposed a US$24 billion merger with China Unicom as part of a broader restructuring of China's telecommunications sector.Under the…

1 minute readJuly 09, 2008 at 12:58 AM

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China Netcom has proposed a US$24 billion merger with China Unicom as part of a broader restructuring of China's telecommunications sector.

Under the proposal, holders of China Netcom shares and ADSs would receive China Unicom shares or ADSs with an aggregate value of HK$185 billion (US$23.8 billion), based on the most recent closing price of China Unicom shares.

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