China Netcom Group Corp (Hong Kong) Ltd said it expects to complete before the end of this month a 3.5 billion yuan (US$443.04 million) sale of its telecom assets in Guangdong and Shanghai to parent China Netcom (Group) Co Ltd, Forbes reported.
The assets the company is selling to its parent comprise various telecommunications assets and business operations in Guangdong and Shanghai, said Forbes.
China Netcom said earlier that it expects to achieve better financial results once it sells its unprofitable telecoms services in Shanghai and Guangdong.
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