China Telecom plans to take over the parent company of CDMA assets with more than 1200 billion RMB

According to two of YOUXIN company relevant staff's words,counted by total market share , China's third largest telecommunications provider, China Telecom (00728.HK) will announce the plans to acquire the parent company held by the CDMA network later this month, the price of materials is slightly higher than the 120 billion yuan of book value of the network.

China Telecom declares that they will seek to cope with the acquisition by debt financing ,will not consider the issue of new shares on Financing.

China Telecom Chairman Wang Xiaochu had previously said publicly that China Telecom listed company completed the acquisition of the CDMA assets of the parent company before the end of the year.

Now China Telecom is operating CDMA mobile communications by network lease. As of the end of last year, the company's total mobile subscribers 126 million, became the world's largest CDMA operators

By this news, China Telecom in the afternoon after the opening climb rise, as of 13:40, the stock was up 0.76 percent at HK $ 3.99.