The China Securities Journal circulated a report recently saying that the China Securities Regulatory Commission is encouraging institutional money managers to make stabilization of the stock market their No. 1 priority ahead of the Olympics, and while this is nothing new, it helps to boost overall market confidence. (TheStreet.com, 5/30/08)
Chinese wireless provider China Unicom announced it would acquire fixed-line services company China Netcom as part of the first step in the China’s reshuffling of its telecom industry. The nearly $24 billion stock-swap deal comes one week after Chinese officials announced a plan to merge six state-owned phone providers into three in a move designed to offer more competition for China Mobile, which has the largest subscriber count in the world at nearly 400 million. Additionally, China Unicom said it would sell its code division multiple access, or CDMA, network to China Telecom for $15.86 billion. Once the restructuring is complete, three 3G spectrum licenses will be granted to the merged companies. Overall, the changes should create commercial opportunities for international equipment vendors such as Ericsson, Alcatel-Lucent and Nokia-Siemens. (Wall Street Journal, 6/2/08)
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