China’s three main telecoms operators this week announced they have completed the transfer of their towers assets to the newly created China Tower joint venture.
China Mobile, China Telecom and China Unicom last month agreed to hand over 213.9 billion yuan (€29.5 billion) worth of towers and related assets to their new tower-sharing business.
The transfer was completed on 31 October as scheduled, the operators said in separate statements on Monday.
The final price of the deal will be determined on or before the end of November, China Unicom explained.
China Mobile will own 38% of China Tower, China Unicom 28.1% and China Telecom 27.9%. The final 6% will be held by China Reform Holding Company (CRHC), an entity controlled by the government’s State-owned Assets Supervision and Administration Commission (SASAC).
China Mobil e and China Telecom said they intend to lease back the infrastructure they rolled into the venture but have yet to finalise the terms of that deal.
It is safe to assume that China Unicom will broker a similar agreement.
