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China Telecom says 2017 capex 89 bln yuan, down 8 pct
March 21, 2017 / 8:38 AM / 8 months ago

China Telecom says 2017 capex 89 bln yuan, down 8 pct

HONG KONG, March 21 (Reuters) - Chinese state-owned telecommunications network operator China Telecom Corp Ltd said on Tuesday it had earmarked 89 billion yuan ($12.90 billion) for capital spending this year, down 8 percent from 2016.

China Telecom Chairman and Chief Executive Yang Jie was speaking after the company reported net profit that fell 10.2 percent last year due to a higher base of comparison, and said subscribers to its 4G mobile network doubled. ($1 = 6.8969 Chinese yuan) (Reporting By Sijia Jiang; Writing by Anne Marie Roantree; Editing by Subhranshu Sahu)

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