The conglomerate China International Trust and Investment Corp (Citic) has signed an agreement with China Satellite Communications Corp to explore the telecoms business.
China Daily described the deal as a breakthrough for Citic, which has built broadband networks and a cable television network but has not got a licence to provide fixed-line or mobile services. According to the newspaper, the two companies would ‘link their networks in the sky and on the ground to form a more powerful and wider net coverage’.