September 4, 2018 / 8:56 AM / 20 days ago

China explores merging China Unicom, China Telecom: Bloomberg

(Reuters) - The Chinese government is exploring a merger of two of the nation’s top wireless carriers to speed up the development of 5G mobile services, Bloomberg reported on Tuesday, citing people familiar with the matter.

The country's top leaders are reviewing a proposal to combine China United Network Communications Group Co (China Unicom) and China Telecommunications Corp, Bloomberg reported, adding that no decision has been made and it's also possible that a merger may not happen. bloom.bg/2MO3Kps

State-controlled China Unicom, formally known as China United Network Communications, said it was not aware of the situation, in response to the report of a possible merger with China Telecom.

China Telecom referred to their response at the time of interim results briefing and said they still have not been notified of any such plans.

Reporting by Ismail Shakil in Bengaluru and Sija Jiang in Hong Kong and Adam Jourdan in Shanghai; Editing by Gopakumar Warrier

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