China Netcom acquired full control of Asia Netcom, a company founded in March 2003 by a consortium lead by CNC which included Newbridge Capital and Softbank Asia Infrastructure Fund. The partners recently agreed to exit the consortium at this time to support CNC in facilitating its restructuring process. Since its launch last year, Asia Netcom’s business has been managed as a stand-alone entity. China Netcom said it plans to continue operating Asia Netcom as a separate business and has no immediate plans to fully integrate Asia Netcom into its mainland operations. http://www.asianetcom.com
- China Netcom is a facilities-based incumbent fixed line operator in China. It controls local access networks in 10 northern provinces with 68 million access lines and local loops in 35 key southern cities.