- 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%).