China Telecom to Buy Three Units From Parent for $185 Million to Cut Costs

(Bloomberg) -- China Telecom Corp., the nation's
biggest fixed-line telephone carrier, will buy three units from
its parent to increase sales of voice and Internet services
between China and other countries.

The operator will pay 1.41 billion yuan ($185 million) to buy
China Telecom (Hong Kong) International Ltd., China Telecom (USA)
Corp. and China Telecom System Integration Co. from parent China
Telecommunications Corporation, the Hong Kong-listed unit said in
a statement today.


Read more at Bloomberg Emerging Markets News