Restructuring Of State-Owned Telecommunications Companies Likely To Facilitate Acquisitions

MW (HONG KONG)--On Friday 13 July 2007, MarketWatch.com reported on Thursday two senior executives resigned from China Netcom. Wong Chi Man of China Everbright Securities stated that none of the executives are currently in operational management and they are to perform "audit"-like functions, and the rotation is a routine process for state-owned enterprises. On Friday, other state-controlled telecom companies made organization changes when China Telecom's Executive Vice-President (EVP) left for China Mobile, the parent company of China Telecom. China Mobile's VP and Executive Director resigned to take a new post with China Telecom where he is to be the EVP and Executive Director.
Note: The disruption comes at a time when China's state-owned companies are forming numerous partnerships with foreign companies into its telecommunications business likely in time for the Beijing Olympics.

http://tinyurl.com/24u5qn (MarketWatch Article)