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The auction is in line with the development strategy laid out by China United Telecommunications Corporation (Unicom Group), a mobile telecoms service provider that was suggested to take over China Netcom Group in the nation's telecoms industry reshuffle, said an executive for China Netcom Group.
The planned merger between Unicom Group and China Netcom Group is going on smoothly, according to the executive.
The fixed-line telecoms operator is the parent company of China Netcom Group Corporation (Hong Kong) Ltd. (SEHK: 0906 and NYSE: CN, China Netcom). The publicly-traded company, which will merge with China Unicom Ltd. (NYSE: CHU, HKSE: 0762 and SHSE: 600050), was scheduled to get delisted from the Hong Kong and New York bourses on October 15.
From dycj.ynet.com, Page 1, Tuesday, October 14, 2008 info@SinoCast.Com
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