China Mobile to consolidate TieTong assets
27 November 2015 |
China Mobile subsidiary CM TieTong is reportedly planning to acquire the fixed-line telecoms assets of its sister company TieTong.
CM TieTong could pay as much as 31.9 billion yuan ($5 billion) for TieTong’s assets, in a bid to boost its presence in the Chinese fixed-line market.
TieTong has more than 10 million fixed broadband and fixed-line customers across China, as well as a nationwide backbone network and land assets in 31 provinces.
China Mobile had said earlier this year that it was considering the acquisition of TieTong’s assets, and the payment will allegedly be funded by China Mobile’s internal resources.
China Mobile, China Telecom and China Unicom agreed last month to divest nearly $36 billion worth of towers assets in a tower-sharing joint venture.
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