BCI Signs Mobile Phone Contract with China's Second National Carrier, UNICOM.MONTREAL--(BUSINESS WIRE)--Oct. 14, 1995--Bell Canada International Inc. (BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ) announced today that it has signed a contract with China United Telecommunications Corporation (UNICOM) to provide financial, technical and other support to built a 50,000-subscriber digital mobile telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. in the coastal city of Yantai, in the province of Shandong, People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. BCI also signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with UNICOM which sets out the principles for more extensive cooperation in the entire province of Shandong, an area with a population of 86 million and the third highest gross domestic product in China. UNICOM is the second national carrier established by the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
BCI will form an equity joint venture with a local partner, the Yantai City Industrial and Trading Corporation. The new company, Yantai Bell Telecommunications Engineering Co. Ltd., through a contract with UNICOM, will build the mobile phone network, and provide necessary technical and other expertise to the mobile phone operator, the Yantai branch of UNICOM. BCI will own 80 percent of Yantai Bell, and will invest US$17 million in the first phase of the project. The contract was signed by Mr. Derek H. Burney, chairman, president and chief executive officer of BCI and Mr. Zhao Weichen, chairman of UNICOM and advisor of Premier Li Peng's business delegation to Canada. For foreign telecommunications companies that are vying to enter the China market, BCI is amongst the frontrunners to conclude a definitive agreement with UNICOM. Mr. Burney stated, "These agreements represent a breakthrough for BCI into China's telecommunications sector; its significance goes far beyond the size of the initial investment. By the year 2000, China will be among the top three telecommunications users in the world, and mobile phone subscribers will reach 10 million. I am pleased that BCI and UNICOM have been able to forge this important relationship at the early stages of UNICOM's development". Mr. Zhao said, "I am delighted that BCI is UNICOM's partner on the Yantai project. This is an important step for UNICOM in utilizing foreign funds and expertise, and I am optimistic about expanding cooperation with BCI". BCI is the primary vehicle for BCE's investments in international telecommunications network operations, with over $2 billion invested in wireline, cable telephony See cable telephone. and wireless operations in the United Kingdom, United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Colombia, Brazil and Japan. CONTACT: Bell Canada International John Cheh, 852/2585-2255 (Hong Kong) or Felix Li, 514/392-2316 |
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