China Netcom completes first phase of restructuring.(Top News)(Brief Article)

China Telecom, November, 2003

China's second-largest fixed-line phone company, China Network Communications Group Corp. had completed the first phase of a restructuring that would lead to an eventual public listing. Formed last year after the break-up of China's former fixed-line phone monopoly, the company now known as China Netcom formally launched its international division, to be called CNC International Corp Ltd.

Netcom has spent much of the last year integrating its assets, which include fixed-line phone networks in 10 northern Chinese provinces, along with upstart telecom services operators Netcom Ltd. and Jitong Network Communications.

Former Netcom Ltd. chief Edward Tian will head the new CNC International Corp, whose central asset will be its Asia Netcom division,...

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