China's Datang Telecom to sell 20 per cent stake (China)
July 15, 2009
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Chinese telecom equipment manufacturer Datang Telecom is planning to offload 20 per cent stake, worth around 3 billion yuan, to China's National Social Security Fund. Datang Telecom is one of the key developers of China's 3G standard, TD-SCDMA. The company is planning to use the proceeds of the sale to improve production and augment its working capital. In 2008, China's State Development and Investment Corporation had bought 35 per cent stake in Datang Telecom Holdings for 5 billion yuan.
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