China telcos await 3G news

Shares of China's two largest wireline telcos--China Telecom and China Netcom--rose sharply today in the Hong Kong stock market after a national news agency reported the Chinese government may quicken its plan to grant 3G wireless licenses. Despite ongoing growth, both wireline operators have begun to lose some wireline customers to China's wireless firms, and the Chinese government for some time has been considering how and when to allow the nation's wireline giants admission to the wireless market. There's still no expected date for the licensing, but stay tuned.

For more:
- read this report from Bloomberg.com

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