News about the awaited restructuring of China's telecom industry may be imminent, according to reports published last weekend by at least two news agencies in China. The Beijing News Agency and the South China Morning Post both said a formal announcement of the restructuring plan could come as early as this week, after approval by the country's State Council last week.
The restructuring, as previously outlined, would see wireline incumbent China Telecom acquire mobile giant China Unicom's CDMA network, while wireline carrier China Netcom takes over its GSM network. The plan has been discussed for some time, though many observers have presumed it would not be tackled until after the Beijing Summer Olympics this year.
For more:
- see this report with a South China Morning Post link at MarketWatch
- read the Beijing News Agency version at CNN Money
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- China's telecom industry shake-up was a hot topic last month