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China's MIIT denies telecom merger rumors: state media
February 12, 2015 / 7:22 AM / 3 years ago

China's MIIT denies telecom merger rumors: state media

BEIJING (Reuters) - An official at China’s telecoms regulator has denied online rumors that China Unicom and China Telecom would merge, according to China Central Television’s microblog.

There are “no current plans to reform the telecom industry”, an unnamed official at the Ministry of Industry and Information Technology told CCTV.

Shares of Unicom and Telecom rose more than 5 percent in intraday trading Thursday on rumors circulating on social network Weibo of a government plan to merge the two state-owned carriers.

Reporting by Gerry Shih; Editing by Gopakumar Warrier

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