China Telecom set to be postponed until 2002

High-level political manoeuverings at the Ministry of Information Industry (MII) may lead to the postponement of China Telecom''s IPO until next year.

Jackie Horne

February 28, 2001

While there has been no official decision yet, China experts report that the Mainland government is starting to favour a 2002 listing date for China Telecom. Initially, the government had hoped to list the country's dominant fixed line player in Hong Kong and New York this July, but the huge restructuring job in hand for bookrunners Merrill Lynch, Morgan Stanley Dean Witter and China International Capital Corp CICC, had always made the fourth quarter a more realistic target.

Now, however, observers say that the schedule may be pushed back again because of a re-shuffling at the MII. In particular, speculation has been growing...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 1 article per month from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222