China Broadcasting & Network Invests CNY10 bn in 700MHz Band Operation

Updated:2017/8/16 16:19

The company jointly set up by CBN(China Broadcasting and Network co., LTD) and Citic Group registered recently with capital of CNY10 billion, according to the latest information.

CBN invested CNY5.1 billion and held 51 percent of the shares, and Citic Group invested the other 4.9 billion renminbi, holding 49 percent of the shares.

The right to operate the 700MHz band has widely attracted China's mobile communication market.

The main network assets for CBN used to be cable and fixed broadband network, which were segmented before and is unified in province now. CBN should make full use of the 700MHz band.

CBN hasn't applied to operate wireless communication services though obtaining a telecom service license last year, which means that the company won't offer mobile communication basic services or face the three state-owned operators directly.

As is known to all, the telecom industry always puts emphasis on investment and gets interests from the scale effect. For instance, the three operators have spent CNY310 billion in the network construction this year despite their gradually reducing spending in recent years.

The registered capital of China Mobile, China Telecom and China Unicom is respectively CNY300 billion, CNY220.4 billion and CNY106.5 billion, while that of CBN, by contrast, is only CNY4.5 billion.

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