Editorial Summary

China Unicom (NYSE: CHU, 762.HK, 600050.SH) announced on Tuesday that the sale of its CDMA network to China Telecom (NYSE: CHA, 728.HK) will be delayed until no later than August 31, 2008. The original deadline for the submission of the details of the sale was June 23. Unicom said that the terms of the deal are expected to remain unchanged from before, namely, that China Unicom will sell its CDMA network to China Telecom for a total of RMB 110 million. China Unicom and China Netcom (NYSE: CN, 906.HK) also jointly announced on Tuesday that the submission of a detailed plan for the proposed merger between China Unicom and China Netcom will be delayed until September 16 at the latest. The original timeline called for the plan to be submitted by July 7.