China Telecom Total Subscribers 8.42 Million as of May 31
Bloomberg News
Jun 16 1999 12:42AM ET
China Telecom Total Subscribers 8.42 Million as of May 31
Hong Kong, June 16 (Bloomberg) -- China Telecom (Hong Kong) Ltd., the Hong Kong-listed unit of China's largest
telecommunications company, said it added 1.89 million new customers from January to May this year, bringing its total number of
subscribers to 8.42 million, even as competition heats up.
Wang Xiaochu, chairman of China Telecom Hong Kong, said while the company would like to focus on the cellular phone business,
it may also invest in the international and Internet related assets.
China Telecom, the only publicly traded company operating telecom networks in China, is facing increasing competition from other
Chinese telecommunications companies, as the government follows through on pledges made to increase competition in the
mainland.
''We are capable of operating all sorts of telecom businesses, but we would like to focus on the cellular business,'' Wang said.
Wang said the company is considering offering messaging and other Internet and value-added services via mobile phones this year.
China Telecom is likely to waive all connection fees in two years' time, choosing instead to generate all its money through usage
charges, following the worldwide trend in mobile phone services.
China Telecom said its parent company, the China Telecom Group, hasn't recently considered selling its 13 percent stake in Hong
Kong Telecommunications Ltd., soon to be called Cable & Wireless HKT Ltd. China Telecom Group's own future development will
determine whether to increase or decrease its stake in Hongkong Telecom, Wang said.
The restructuring of the China Telecom Group in China will be complete by the end of July. The reorganization will separate the
company into paging, mobile and fixed-line units. The Hong Kong-listed unit will come under the control of the new mobile unit.
China Telecom Hong Kong has no current plan to change its name, Wang said.
China Telecom (Hong Kong) stock rose 1.7 percent to HK$18.30. |
