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BT Group becomes first foreign telecom with nationwide China license

Jan. 24, 2019 11:06 AM ETBT Group plc (BT) StockCHA, CHL, CHU, BTBy: Jason Aycock, SA News Editor4 Comments
  • BT Group (BT -0.4%) has become the first non-Chinese telecom to get a nationwide operating license in China, it tells Bloomberg.
  • That will allow the British incumbent telecom to contract directly with Chinese customers and bill them in renminbi.
  • Two licenses are involved: a domestic IP-VPN license and a nationwide ISP license.
  • The deal is subject to be scaled up, and it's thanks to cooperation between China and the UK, the company says.
  • BT more fully enters a market led by state-owned telecoms China Mobile (CHL +0.9%), China Telecom (CHA -1.4%) and China Unicom (CHU -0.7%).

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