China Telecom's 2013 capex to rise to 75 bln yuan

HONG KONG, March 20 Wed Mar 20, 2013 2:10am EDT

HONG KONG, March 20 (Reuters) - China Telecom Corp Ltd , the country's third-largest mobile phone carrier, has set capital expenditure for 2013 at 75 billion yuan ($12 billion), a 3.3 percent increase from the previous year.

The amount includes spending on assets acquired from its parent state-owned China Telecom Corp last year, the company said on Wednesday after it announced its results.

China Telecom's actual spending was 53.73 billion yuan in 2012, but after factoring in the acquisition of its parent's assets later that year, total capex was 72.525 billion yuan, the company said. (Reporting by Lee Chyen Yee; editing by Miral Fahmy)

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