Business / Companies

CBN 'to act as fourth telecom carrier'

By Shen Jingting ( Updated: 2012-11-20 14:07

China Broadcasting Networks Co, the business to be set up by the State Administration of Radio Film and Television, is likely to get the government's approval to run fixed line businesses, according to a report by Economic Information Daily.

The paper cited a source from SARFT that China Broadcasting Networks might be allowed to run some telecom businesses such as Internet access. "That indicates China Broadcasting Networks may act as 'the fourth telecom carrier'," the paper quoted the source as saying.

The source also revealed that China Broadcasting Networks would conduct acquisitions of local broadcasting network companies in different provinces after its establishment. However, there is no detailed information whether China Broadcasting Networks could be set up in November or not.

Chinese media reported on Nov 15 that the State Council had agreed to establish China Broadcasting Networks Co Ltd. The Ministry of Finance will provide registered capital of 4.5 billion yuan and SARFT is responsible for its establishment and the company's operation.

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