China Netcom announces IPO plans

China Netcom, the third incumbent in China''s telecommunications industry, is considering listing its shares abroad next year.
China Netcom, the third and newest entrant to China's state-run telecommunications industry, said it is considering listing its shares abroad next year as it seeks to speed the expansion of its broadband optical fibre communications network and develop its range of telecommunications and internet services.

The company, which was formed last June, is building an 8,000kmáhigh-speed network which it says will cover 17 Chinese cities by the end of this year. China Netcom will lease bandwidth - space on the pipes that deliver telecom services - and provide access to data service centre to other telecoms, cable television companies and internet service and content providers. It is also the first Chinese state-owned company...

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