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Article: CSL to merge with New World Mobile in Hong Kong.(New World Mobile Holdings Ltd.)(Telstra Corporation Ltd.)(Brief Article)
- Article from:
- Telecomworldwire
- Article date:
- December 9, 2005
CopyrightCOPYRIGHT 2005 M2 Communications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TELECOMWORLDWIRE-9 December 2005-CSL to merge with New World Mobile in Hong Kong(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
A new mobile operator is to be created in Hong Kong following the intended merging of CSL, the Hong Kong-based mobile business of Telstra Corp, with New World Mobile Holdings Ltd.
Australia-based Telstra said it had agreed the merge and confirmed that it will receive HKD244m in cash and own 76.4% of the merged business, with the remaining 23.6% owned by New World Mobile. According to Telstra, the new company, to be called CSL New World Mobility Ltd, is expected to have a 34% share of the mobile market in Hong Kong.
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