CFSC evaluation date revealed
China’s Ministry of Industry and Information Technology (MIIT) and the country’s three largest operators, China Mobile, China Unicom and China Telecom, will complete an evaluation on their joint investment, China Communications Facilities Services Corporation (CFSC), by August 2015.
In July this year, the operators signed an agreement to form a joint telecoms tower company, designed to focus on the construction, maintenance and operations of telecoms towers, but until now, progress has been kept under wraps.
The CFSC’s basic tower structure has been completed, and regional tower companies founded, but there has been no news regarding new towers or tower stations.
The group has now jointly hired an evaluation organisation to complete the delivery of tower assets by next August 31 and their asset re-evaluation will be based on October 31, 2015, according to local reports.
The stakes were initially set to be divided between China Mobile, China Unicom and China Telecom in a 40%, 30.1% and 29.9% split, respectively, but this could change following the evaluation, market watchers believe.