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China+Unicom - Bloomberg Printer-Friendly Page...

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China Unicom to Spend $14.6 Billion to Expand Network (Update2) Email | Print | A A A By Mark Lee Aug. 13 (Bloomberg) -- China Unicom Ltd. , the nation's second-biggest mobile-phone carrier, said it may spend as much as 100 billion yuan ($14.6 billion) to expand wireless networks as it seeks to narrow the gap with China Mobile Ltd. The proposed investment covers spending in 2009 and 2010, according to a Unicom statement to the Hong Kong stock exchange today. The Beijing-based company said previously 2008 capital expenditure on its wireless network would be 18.7 billion yuan. The increase will allow Unicom, whose market share is less than half China Mobile's, to add networks in rural areas and introduce third-generation services. Competition in the world's biggest phone market will intensify as carriers are now permitted to offer both fixed-line and wireless services following a government plan to reorganize the industry. ``Unicom needs to upgrade its networks to become more competitive,'' said Kelvin Ho , who rates the stock ``neutral'' at Nomura Holdings Inc. in Hong Kong. ``On a per-user basis, the spending announced by Unicom
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  • Spring '09
  • LynnPi
  • China Unicom, Hong Kong Stock Exchange, Central-owned enterprise of the People's Republic of China, China Mobile, China Unicom Ltd.

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