To: Jim Willie CB who wrote (8971 ) 3/23/2000 11:20:00 PM From: LBstocks Respond to of 35685
Here's some more positive QCOM news. Not only did China Unicom get a $1.2 Billion loan and will have an offering for $3 Billion more to be managed by Morgan, but now there is another Chinese carrier adding a CDMA network> China Unicom Gets $1.2 Bln Loan; Morgan to Manage Share Sale Shanghai, March 23 (Bloomberg) -- China United Telecommunications Co., the nation's No.2 phone company, said it secured a 10 billion yuan ($1.2 billion) loan from China Development Bank to build digital phone networks. Sun Hua, an executive at China Unicom, confirmed the loan arrangement, reported earlier by the China Securities newspaper. ``The loan will help our businesses especially our network construction,' he said. The company also said it hired Morgan Stanley Dean Witter & Co. to arrange a planned $3 billion overseas share sale in the first half of this year. The loan would not slow Unicom's planned share sale, said Sun. The company said last year it would invest as much as 7 billion yuan to build nationwide mobile phone networks based on the code division multiple access standard. It also signed a pact with Qualcomm Inc. for use of the U.S. company's patented CDMA technology early this year. China Unicom's plan to build CDMA mobile networks will likely face competition. Century Mobile Communications Corp., which is backed by the Chinese army and currently operates pilot CDMA networks in four Chinese cities, is expanding its network to other regions of China including Hebei, Fujian and Tianjin. Century Mobile may invest up to 3 billion yuan for the new networks, said Wang Zhanqiang, an analyst at Guotai Junan Securities Co. Mar/23/2000 0:34