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July 11, 2014
07:16 EDTCHL, CHA, CHUChinese telcos confirm establishment of tower facilities joint venture
China Telecom (CHA) announced that the company, China United Network Communications (CHU) and China Mobile (CHL) entered into a promoters’ agreement to jointly establish China Communications Facilities Services Corporation Limited. The registered share capital of the tower venture is RMB10B. The three companies intend to subscribe for 2.99B shares, 3.01B shares and 4.00B shares of the tower company respectively in cash at a par value of RMB1.00 per share, representing a shareholding percentage of 29.9%, 30.1% and 40.0%, respectively. The tower venture company will primarily engage in the construction, maintenance and operation of telecommunications towers, and will also engage in the construction, maintenance and operation of ancillary facilities such as control rooms, power supply systems and air conditioning systems of base stations, etc and indoor distribution systems as well as the provision of outsourcing maintenance services for base station equipment. At present, the respective parties are at a preliminary stage of considering potential injections of certain telecommunications assets into the tower company, China Telecom stated.
News For CHA;CHL;CHU From The Last 14 Days
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March 2, 2015
10:02 EDTCHLHigh option volume stocks
High option volume stocks: MNTA NTRI KOS NST GSAT THC CHL MSI CAKE NXPI
09:41 EDTCHLChina Mobile downgraded to Equal Weight from Overweight at Morgan Stanley
06:25 EDTCHA, CHUChina releases FD-LTE licenses to China Telecom, China Unicom, DigiTimes says
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05:56 EDTCHLWind River announces collaboration with China Mobile
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