CHA
China Telecom Corporation LimitedNYSE
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  • Feb. 12, 2015, 12:15 PM
    • Building on last night's report about merger chatter, Chinese telecoms marked gains similar to those in Hong Kong with their ADRs on the NYSE.
    • Leader China Mobile (NYSE:CHL) is up 2.9%; China Unicom (NYSE:CHU) is up 4.2% and China Telecom (NYSE:CHA) +2.9% on the rumor that the two would merge to better compete with China Mobile.
    • China Telecom says it isn't aware of any plan to merge with China Unicom.
    • All three finished the Hong Kong market day on heavy volume with China Mobile up 3.9%; China Unicom up 4.3%, and China Telecom up 2.9% (on near quadruple volume).
    | Feb. 12, 2015, 12:15 PM | 1 Comment
  • Feb. 11, 2015, 11:46 PM
    | Feb. 11, 2015, 11:46 PM | 1 Comment
  • Jan. 16, 2015, 2:59 PM
    • AT&T's (T +1.6%) $2.5B purchase of Mexican mobile carrier Iusacell is officially on the books. Ma Bell has used the occasion to reiterate the merger will allow it to offer cross-border mobile services. "It won't matter which country you're in or which country you're calling it will all be one network, one customer experience."
    • AT&T has also announced Thaddeus Arroyo, formerly the president of AT&T's Technology Development unit and before that its CIO, will run Iusacell. Adrian Steckel, until now Iusacell's CEO, will "assist Arroyo with the integration of Iusacell into AT&T."
    • Separately, Reuters reports China Telecom (CHA -2.2%) is "preparing a possible bid" to build and run a Mexican wholesale mobile network expected to cost $10B over 10 years. The network, mandated by Mexico's 2013 telecom reform bill, aims to allow America Movil's (AMX -0.6%) rivals (such as Iusacell) to provide better coverage without having to rely on AMX, which is still looking for a buyer for the Mexican assets it's shedding to bring its share below 50%.
    | Jan. 16, 2015, 2:59 PM | 4 Comments