China Mobile to acquire China Railway Communication
Beijing - China Mobile wireless plans to takeover fixed-line China Railway Communication in a long-awaited industry overhaul that also involves smaller telecom providers Unicom and Netcom, Xinhua news agency reported Friday.
The move also involves a personnel reshuffle, though Wang Jianzhou, president of China Mobile, will head the combined company, Xinhua reported.
Zhang Chunjiang, chairman of Netcom, the smaller of China's two fixed-line carriers, will be the merged company's new party boss - traditionally a political appointment.
Li Zhengmao, a Unicom vice president, will be vice-president at the larger company. Netcom Senior Vice President Zhang Xiaotie also joins China Mobile.
Chinese regulators are seeking to boost the competitiveness of fixed-line operators as more people choose mobile services. (dpa)