CAOL: The Chinese AOL and Internet Lottery Message Board

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Non-Tech : CAOL: The Chinese AOL and Internet Lottery

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To: Dave Gore who wrote (513)	7/5/1999 11:16:00 AM
From: JoeinIowa	of 720

Caught this off the R+B. South China Post New York company acquires Chinese Internet operator NEWSBYTES -------------------------------------------------------------------------------- New York-based Cathayonline.com Inc says it has acquired Sichuan Torch Information Technologies Co, an Internet service provider in China's Sichuan province. Financial details of the transaction were not disclosed. The Chinese company operates an Internet access service, one of four in the province, as a joint venture with Chengdu Torch Industrial & Commercial General Co. The latter company holds an ISP license from the Chinese government. Sichuan Torch is the sole operator of Internet access services under the license and provides 20 per cent of all profits to Chengdu Torch as part of the arrangement. Cathayonline.com said with the acquisition complete, it will now work on expanding the company's operations within Chengdu, the provincial capital, and to 12 other municipalities within the province. In addition to expanding the service area, it also plans to offer more services including those targeted at corporate customers. Copyright (c) Post-Newsweek Business Information, Inc. All rights reserved.

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