China Netcom buys four local operators (China)
October 15, 2005
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China Netcom Group Corporation (China Netcom), the country's second largest fixed line operator, has agreed to buy four provincial networks from its stateowned parent, China Network Communications Group, for Rmb36 billion ($4.5 billion). China Netcom said it would pay Rmb12.8 billion in cash, and assume debt of Rmb23.2 billion.
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