Business Services Industry
Hartcourt to Acquire Significant Interest in World's First Fiber-Based Broadband ISP.(Brief Article)
China Telecom, November, 2000
The Hartcourt Companies Inc. announced that it has signed a stock purchase agreement to acquire up to 40 percent of the equity of @Family Broadband Networks Ltd., the first fiber-based broadband internet service provider being set up by ChinaCityNet Ltd. @Family Broadband Networks is an extension of the services currently being delivered by @Family Broadband Networks --Shanghai, the first commercial broadband ISP in the world offering 10 Mbps and 100 Mbps Internet access to consumers. These services are 50-100 times faster than competing ADSL or cable modem broadband solutions. Hartcourt's investment in @Family Broadband Networks is subject to governmental approval and completion of a satisfactory due diligence process.
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