Biz Scene: GRAPEVINE
Unicom to split divisions
China Unicom Ltd plans to split the sales and marketing divisions of its two networks by March 15, the 21st Century Business Herald reported, citing unidentified company executives.
The sales and marketing division for services based on global system for mobile communications, or GSM, will be separate from the one based on code-division multiple access, or CDMA, technology, the newspaper said.
Unicom, which said earlier it plans to split up the operations as part of restructuring efforts, will probably draft a plan before the end of the month, the report said.
Guangzhou port IPO plan
Port operator Guangzhou Port Group aims to raise up to $750 million from an initial public offering in the fourth quarter this year, the South China Morning Post reported yesterday, citing sources.
The report said the firm could sell shares in Hong Kong before an offering in Chinese mainland, but exact details had yet to be decided.
Guangzhou Port, which has 639 berths and 47 container terminals, plans to invest 20 billion yuan to expand annual capacity to 350 million tons of cargo and over 10 million 20-foot containers by 2010.
(China Daily 01/30/2007 page15)
