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. 11, 2015, 11:46 PM
- China's telecoms all headed solidly into positive ground in Hong Kong midday Thursday on chatter (translated) that two smaller ones -- China Unicom (NYSE:CHU) and China Telecom (NYSE:CHA) -- would merge.
- The two are a ways behind China Mobile (NYSE:CHL) in terms of 4G network upgrades, and China Mobile is more than double the size of the other two, which might spur Beijing to let a merger go forward.
- In latest Hong Kong trading, on heavy volume: China Telecom +6.8%; China Unicom +5.1%; China Mobile +3%.
- Related: China Telecom Poised For Large Growth Opportunity (Jan. 29 2015)
- Related: 4G Networks Will Boost China Mobile Performance In The Long Run (Oct. 31 2014)
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%.
China Telecom Corp. Ltd. is engaged in the provision of wireline and mobile telecommunications services. Its products and services include wireline and mobile voice, internet, managed data and leased line, and integrated information application. The company was founded on September 10, 2002 and... More
Industry: Telecom Services - Foreign
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