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China Telecom may sell yuan stock

(Bloomberg)
Updated: 2007-05-29 17:13

Broadband Users

The country added 6.78 million mobile subscribers in April for a total of 487.4 million. The number of mobile-phone users gained last month was almost seven times the 970,000 fixed-line customers added, according to government data.

China Telecom and China Netcom are offering packages including both fixed-line services and high-speed Internet connections to stem the loss of market share to mobile-phone carriers.

"The number of new broadband users to be added this year will be about the same as last year, but it will not be lower," Wang said. In 2006, China Telecom gained 7.3 million broadband customers, and added a further 2.8 million in the first fourth months of this year to bring its total for the service to 31.1 million.

China Telecom shares, which fell 1.7 percent to HK$4.12 as of the midday break in Hong Kong, have declined 3.3 percent this year, while China's benchmark CSI 300 Index has more than doubled.