Chang Xiaobing Said to Become CEO of New China Mobile

BEIJING, May 07, 2008 (SinoCast via COMTEX) -- CHU | news | PowerRating | PR Charts -- Chang Xiaobing, board chairman and CEO of China United Telecommunications Ltd. (China Unicom, NYSE: CHU, HKSE: 0762 and SHSE: 600050), is said to accede to the CEO of restructured China Mobile Ltd. (SEHK: 0941 and NYSE: CHL).

A Hong Kong media, saying the telecom restructuring would be announced as early as May 17, 2008, released the story on May 5. However, the two telecom operators both disclosed that they had not heard such notices. Their stocks seemed have not been affected by the news on the day.

Actually, at the end of April, a talk has arose, saying that a meeting held on April 26 has determined new top management of the to-be-restructured operators. Wang Jianzhou and Chang Xiaobing will become board chairman and president of China Mobile; the two heads of China Telecom Corporation Ltd. (NYSE: CHA and SEHK: 0728) will be Wang Xiaochu and Su Jinsheng; and Zhang Chunjiang and Shang Bing will assume the same posts in China Unicom.

A report by Credit Suisse remarks that China Mobile will benefit most from the possible top management change, because Chang Xiaobing is very familiar with China Unicom. It is well known to all that China Mobile CEO Wang Jianzhou once served China Unicom as board chairman.

From www.enet.com.cn, Page 1, Tuesday, May 06, 2008 info@SinoCast.Com

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index