The $350 million sale of Asia Netcom Netcom is expected to be completed before the end of March negotiations

Founder of venture investment in China Netcom Group PCCW joint Tian, Asia Netcom is accelerating the sale process. Yesterday, the reporter learned from the China Netcom Group, Netcom and British investors sold Asia Netcom signed a memorandum of understanding, China Netcom will be approximately $350 million in price, the sale of its international business main Asia Netcom to each other.

It is understood that China Netcom is still with the British investors in the final negotiations, the two sides expected before the end of April formally completed negotiations, according to preliminary intention at present, Asia Netcom and the whole Asia submarine cable, will be sold to investors, the investment group by several investment institutions, including GEMS Spinnaker capital group and Ashmore investment management company.

According to sources, the actual leader of the investment group is currently Hutchison Whampoa former director general manager Ma Shimin, 3 phone company Ma Shimin investment group and India had expressed interest in Asia Netcom, but signed a memorandum with China Netcom, 3 telephone companies in India have been out.

It is interesting to note that, as early as in 2004, when the reorganization of Netcom, Netcom's international operations are included in the Netcom international and Asia Netcom, but last year, China Netcom has officially revoked Netcom international.

The industry believes that, after the sale of Netcom, Netcom will clearly focus more on the domestic market. Netcom, such as the final sale of $350 million in Asia Netcom, is expected to profit from the acquisition of Asia's global telecommunications. In 2002, Softbank Asia Netcom joint Newbridge investment fund, the acquisition of Asia Global Crossing submarine cable on the verge of bankruptcy assets at a price of $80 million, and on the basis of the establishment of Asia Netcom, Netcom and then from the bridge and Softbank purchased 49% shares of Asia Netcom, Asia Netcom Holdings 100%.