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Pastimes : Discuss ATEL - ACCESSTEL INC
ATEL 0.00Sep 11 5:00 PM EST
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To: Mr. Jens Tingleff who wrote (13)4/8/2001 3:29:53 PM
From: StockDung   of 130
 
CHINA CRACKS DOWN ON FOREIGN INVESTORS IN CABLE NETWORKS

China's telecommunicatons regulator threatened to seize assets in a move to reinforce a ban on foreign investment in domestic telecommunications networks. The move, announced on the Ministry of Information Industry's Web site, follows widespread links between local cable-television operators and companies seeking to use those networks to offer lucrative services such as high-speed Internet access. A crack down on the practice could threaten the business operation of some Hong Kong-listed companies that have invested in China's cable networks, usually with the tacit approval of local governments. The ministry's notice said foreign companies, including Hong Kong and Macau concerns, can't invest in telecom networks before China's expected entry into the World Trade Organization. The notice requires foreign investors in telecom networks to report to the ministry and "voluntarily rectify" the investments. Local governments and companies that own fiber-optic networks are also required to report their holdings within 30 days.

The notice exempts companies with a basic license for telecommunications services, including state-controlled China Telecommunications, China Mobile Communications and China Unicom.

The Above was taken from the Wall Street Journal news paper in the International section ...A11........Friday, Apri 6, 2001, under WORLD WATCH.......compiled by David I. Oyama
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