Assets firm sets sights on listing next year

China Tower to raise funds from stock market to diversify

China Tower Corp, a joint venture created to handle the tower assets of the country's top three telecom carriers, is planning to go public in 2017 as part of broader efforts to diversify.

The news came shortly after China Tower announced on Friday it had completed an injection of 203.5 billion yuan ($30.8 billion) worth of telecommunications tower assets from shareholders China Mobile Communications Corp, China United Network Communications Group Co Ltd and China Telecommunications Corp.