Datang Holding inaugurated
Posted by admin on January 10th, 2008
Datang Group has announced the establishment of Datang Holding, which works on home-grown 3G technology and related telecommunications services.
The State Development and Investment Corp invested RMB5 billion (US$684 million) in the new firm to take a 35% stake. The new firm’s registered capital is RMB3 billion.
The 35 percent stake will be sold by the China Academy of Telecommunications Technology, a unit of the China’s top telecoms regulator, the Ministry of Information Industry.
CATT also holds a 30.34 percent stake in listed Datang Telecom Technology Ltd , a maker of equipment for wireless networks and supports a home-grown TD-SCDMA third-generation mobile standard.
Source: Shanghai Daily
