China Telecom To Receive 50% Stake In China Satcom

China Satellite Communications plans to transfer 50.02% of its stake, or 200 million shares, in China Satcom Guomai Communications to China Telecom. An application for the transfer will be submitted to the State Council in the last ten days of December.

Rumors in March said China Satcom's satellite network would be transferred to satellite company China DBSAT and its ground network would go to China Telecom.