BIZCHINA / Center
Firm in talks for China Unicom
By Li Weitao (China Daily)
Updated: 2006-06-07 09:02
South Korean top mobile phone operator SK Telecom is in talks to buy a
stake in China Unicom, the smaller of China's two cellular operators.
A spokesman for SK Telecom China said the firm has been in talks with
Unicom for various partnerships, including the possible acquisition of a
stake.
But "no arrangements have been finalized," he told China Daily yesterday.
According to a report by the Financial Times, SK Telecom plans to buy a
10 per cent stake in China Unicom for about US$1.1 billion.
"We are always seeking business opportunities in China," the SK Telecom
spokesman said.
"But the continued delays in 3G (third generation) licensing in China and
a possible consolidation of Chinese operators have made everything
uncertain."
The Chinese Government has yet to decide when and how to award operators
with licences to build 3G mobile communications networks.
Before licensing, the government is likely to consolidate the top four
operators, reducing the number to three.
Unicom runs two separate cellular networks, based on the GSM and CDMA
standards, which have put the firm under heavy financial pressure.
A senior executive with China Unicom, who asked not to be named, last
month said it is becoming increasingly difficult for Unicom to operate
two cellular networks.
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