China announced plans for a long-awaited restructuring of its telecom industry on Saturday, which will see the six main state-owned companies meld into three full-service carriers offering both fixed-line and wireless services, Bloomberg reported. The announcement was made in a jointly-issued statement by the Ministry of Industry and Information, the Ministry of Finance and the National Development and Reform Commission. No time frame was given for the implementation of the plans. The parent of China Telecom will buy a mobile-phone network from China Unicom’s parent, which in turn will merge with the company that controls China Netcom. Meanwhile, China Mobile will take control of fixed-line operator China Tietong. The result will be three companies – China Mobile, China Unicom and China Telecom – that offer both fixed and mobile services. The government announcement also said third-generation wireless licenses will be issued after the overhaul is completed. For China Economic Review’s preview of the telecom industry restructuring, see our April issue cover story.