Business Services Industry
China Netcom and Telefonica S.A sign Memorandum of Understanding to establish strategic alliance.(STRATEGIC ALLIANCES)
China Telecom, August, 2005
China Netcom Group Corporation (Hong Kong) Limited ("China Netcom" or "the Company"), a leading telecommunications operator in China and the Asia Pacific region, announced that it formally entered into a Memorandum of Understanding ("Memorandum") with Telefonica, S.A. in Beijing on July 21, 2005.
With this Memorandum, the Company and Telefonica hope to establish a broad strategic alliance. The parties will explore possible areas of strategic cooperation which would be beneficial to both parties. They will also examine in good faith the form and terms of such cooperation as soon as possible.
The strategic cooperation could cover:
--Fixed-line, broadband, domestic, and international long-distance communications
--Domestic and...
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