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China Telecom Corp Ltd To Buy Parent's 3G Assets For Over $19 Billion-Reuters


Friday, 3 Aug 2012 01:31am EDT 

Reuters reported that China Telecom Corp Ltd plans to pay more than CNY120 billion ($19 billion) for its parent's 3G assets, a price that tops their book value. China Telecom, which currently leases 3G bandwidth and infrastructure from its state-owned parent China Telecom Corp, is seeking to acquire the assets to cut long-term costs. The carrier is expected to announce plans later this month on the acquisition.