Consolidation and Expansion
On June 2, 2008, the company announced it would acquire China Unicom's CDMA business and network for a total of 110 billion yuan in cash (USD $15.86 Billion in cash), a series of transactions aimed transform the company into a fully integrated telecommunications operator after its expected completion in the next six months to one year.
Such shifts mark a new era for the Telecommunications industry in China in which analyst have further commented that these changes are aimed at promoting a more fair and competitive industry environment.
China Telecom (Europe) Ltd. on 2008-10-23 said it would expand its Asian-European services, aiming to increase its market share in Europe.
In May 2011, China Telecom formed a strategic partnership with German software group SAP to offer a cloud-based version of SAP's business software to small and medium companies in China.
Read more about this topic: China Telecom
Famous quotes containing the word expansion:
“The fundamental steps of expansion that will open a person, over time, to the full flowering of his or her individuality are the same for both genders. But men and women are rarely in the same place struggling with the same questions at the same age.”
—Gail Sheehy (20th century)