China Telecom Group To Build Third Listed Companies

Following China Telecom (00728.HK) and 00552.HK, 600640.SH will become the third listed companies under China Telecom group, and the first A share listed company.

At the same time, China Telecom has been preparing for many years.

Yesterday, the central guard announced the announcement that its original business will be sold to the central bank.

The central defense national vein will be replaced by two business.

Including the central Wei national vein to buy shares of China Telecom's 100% stake in the non-public offering of shares, valued at 325 million.

At the same time, it bought a 100% stake in Tong Mao holdings, a wholly owned subsidiary of China Telecom, through non-public issuance of shares.

In this process, the central defender's total pulse is 14.92 yuan / share price increase 134 million shares.

After the completion of the paction, the China Telecom's direct or indirect holdings will increase from 52.76% to 64.59%.

This is the third reorganization plan taken by the central defender. The plan has been restructured in the form of "Hotel + real estate", but the plan has not been approved by the SFC.

It will take time for the scheme to pass the approval of the regulatory authorities.

After the reorganization is completed, the main business of the National Guard will be changed into the business travel and hotel operation and output management.

At the same time, after the completion of the asset restructuring, the central guard will no longer engage in telecom related businesses that compete with China Telecom and Zhong Tong services, and solve the problem of competition in the same industry.