Cisco to invest in Chinese telecoms group

Cisco will invest US$50 million in China Communications Services Corporation (CCS), the Financial Times reported. CCS, which was recently taken public by a number of domestic telecoms operators including China Telecom, China Mobile and China Unicom, will partner with Cisco to provide business customers in China with services such as digital video and 3G technology. The US technology group has already spent US$700 million on venture deals in China but the CCS move represents its largest direct investment in the country.