China Telecom to buy 3G assets from parent

6 Aug 2012

China Telecom Corporation plans to purchase the 3G assets of its parent company China Telecom Group in an effort to cut long-term costs, reports Reuters. China Telecom Corp will pay more than CNY120 billion (USD18.97 billion) for the parent’s 3G infrastructure and frequencies, to save against rising leasing costs. TeleGeography’s GlobalComms Database notes that China Telecom Corp has the market’s smallest wireless customer base, recording 144.18 million subscribers by end-June 2012, but has the highest level of 3G penetration within its customer base with 36% of its users on 3G subscriptions.