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China Unicom VP Zhao Le Denies Unicom Split And Merger Rumor
Tags: China Netcom, China Telecom, China Unicom, Zhao Le, telecom,
China Unicom (HK) executive vice president Zhao Le denied the most recent rumor that China Unicom may be split up and merged with China Netcom and China Telecom, reports Bejing Morning Post. Zhao said this rumor has no credibility and attributed it to wild speculation stemming from the recent senior executive swap between China Telecom, China Mobile and China Unicom. China Unicom's (600050.SH) stock price rose 6.9 percent to close at 3.10 Yuan on Wednesday after China Unicom announced that its two wholly-owned subsidiaries in mainland China will merge. On Tuesday, Beijing Business Today reported that China Unicom may be split up and merged into China Netcom and China Telecom.
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