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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (4283)	4/29/1999 3:44:00 AM
From: djane	Respond to of 29987

China Telecom to Buy Fujian Provincial Mobile Telephone Network (4/28/99) China Telecom (Hong Kong) will purchase the Fujian Provincial Mobile Telephone Network for more than HK$20 billion (US$2.58 billion), according to the April 25 issue of Zhengquan Shibao (Securities Times). Industry sources provided the estimate of the sale price and said the deal would be complete in three months. Fujian has the third largest number of mobile phone users among Chinese provinces. By the end of last year, it had 1.42 million subscribers, after Guangdong and Zhejiang provinces. China Telecom (Hong Kong) has acquired networks in Guangdong, Zhejiang and Jiangsu provinces. By the end of 1998, the total number of subscribers was about 6.6 million. The number of China Telecom (Hong Kong) subscribers will increase by 22% after its purchase of Fujian Provincial Mobile Telephone Network. © ChinaOnline 1999.