China Unicom: Parent Co Won't Appeal PCCW Court Ruling
26 Maggio 2009 - 11:28AM
Dow Jones News
China Unicom (Hong Kong) Ltd. (CHU) Chairman and Chief Executive
Chang Xiaobing said Tuesday its parent company has no plans to
appeal a recent court decision stopping a US$2.1 billion bid to
take PCCW Ltd. (0008.HK) private.
"We have no arrangement for an appeal," Chang told
reporters.
China Unicom's parent is a major shareholder of PCCW, Hong
Kong's dominant fixed-line operator.
Chang also said the company is still in talks with Ampple Inc.
(AAPL) to offer the iPhone in China and hopes to clinch a deal, but
he refrained from giving a specific time frame.
China Unicom also has no plans for overseas expansion, the
executive said.
"We pay a lot of attention to the cooperation opportunities with
the telecom operators based in nearby countries and we are doing
research. But we have no concrete plans on overseas cooperation
yet," said Chang.
-By Lorraine Luk, Dow Jones Newswires; 852-2802-7002;
lorraine.luk@dowjones.com