China Unicom CEO: Let's stick with CDMA
(13 June 2000) China Unicom will continue to use Qualcomm?s CDMA technology to
develop its third-generation (3G) mobile phone systems, according to Yang Xianzu,
chairman and CEO of China Unicom, the June 13 Hong Kong Ta Kung Pao reported.
Yang also said that the firm?s 3G wireless network, incorporating Qualcomm?s code
division multiple access (CDMA) technology, would begin trial runs early next year in select
Chinese cities.
China Unicom may also buy technology from its parent company, China United
Telecommunications, when the parent company?s technology becomes mature, Yang
added. The parent company has been testing the 2.5G and 3G technologies (TD-SCDMA,
among others).
The problems China Unicom and its parent company have had with its foreign investors
have been properly resolved, Yang stated.
The company owes foreign investors 6 billion renminbi (US$732 million), about Rmb 4
billion (US$488 million) of which has been paid, Yang added.
China Unicom is scheduled to list in both New York and Hong Kong next week and is
expected to raise US$5 billion, potentially the biggest initial public offering by a mainland
Chinese company.
Institutional investors have reacted favorably to the listing plans. The offering was well
oversubscribed during the road show, according to the story.
The IPO price was revised from HK$11.5-HK$14.5 (US$1.48-US$1.86) to
HK$13.66-HK$15.84 (US$1.75-US$2.03). |
