China Netcom Plans IPO.Chinese fixed-line operator China Netcom China Netcom, full name China Netcom Group Corporation (Hong Kong) Limited, abbreviated CNC, was originally formed in August 1999 by the People's Republic of China government to enable inward investments to build high speed Internet communications in the country. Corp is planning to issue CNY CNY In currencies, this is the abbreviation for the China Renminbi. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 5bn ($604m) in corporate bonds this year in order to fund network expansions ahead of an overseas listing next year. The operator is the only one of China's top four telecom operators that is not listed on the US or Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. markets. A company spokesperson told Reuters Reuters British cooperative news agency. Founded in 1851 by Paul Julius Reuter, it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. : "We definitely plan to issue CNY 5bn worth of corporate bonds by the end of this year, for sale all over China. We are awaiting regulatory approval. The funds will go mainly to expanding and maintaining our networks, especially in the 10 northern provinces." China Netcom (former China Network Communications Group Corp) was formed in May 2002 after the break-up of China's former fixed-line phone monolopy. During the past year, it has been restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). its assets. During 2002, it reported sales of CNY 72bn ($8.69bn). China had more than 250 million fixed-line subscribers at the end of September, of which 92 million users were in the 10 northern provinces, China Netcom's "home market". |
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