China Telecom Invests in Chenan Technology, Holding 18.68% of Shares

Updated:2020/3/17 13:23

Chen’an Technology stated in the evening of March 15 that it had received a written notice from Qingkong Venture Capital Ltd, its controlling shareholder, to confirm China Telecom Group Investment Co., Ltd. as the assignee of open solicitation. Chen’an Technology is an international public security product and service provider.

Should the transfer smoothly take place, China Telecom will hold CNY 43.4596 million worth of shares of Chen’an Technology, which accounts for 18.68% of the company’s total share.

If the deal were to be approved by SASAC, it would be an enormous progress in the regulation of state-owned assets. Operators’ investment used to be reckoned as running an irrelevant business, but it’s going to be a new normal in the future.

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