China Mobile and CBN Signed the 700M Supplemental Agreement

Updated:2021/9/14 15:18

On September 10, China Broadcasting Network Group Corporation Ltd (CBN) and China Mobile Communications Group Co., Ltd. (CMCC) signed 5G network co-construction & sharing supplemental agreement.

According to the “Supplemental Agreement”, both parties shall co-construct and share 700MHz wireless network based on all 700MHz frequency bands that CBN had been permitted to use by relevant national departments. China Mobile undertakes all the cost of constructing the 700MHz wireless network stipulated within the “Supplemental Agreement” in advance and enjoys the ownership of the above assets in advance. Both parties have the right to use the 700MHz wireless network. Under the premise of observing requirements of laws, regulations and supervisions, CBN may purchase, at proper time and in phase, 50% of the equipment assets including 700MHz wireless network base stations and antennas from China Mobile according to the original Agreement and the fair market evaluation price at that time. Unless agreed by the other party, neither party shall dispose (transfer, mortgage, pledge, etc.) all or part of the ownership of the 700MHz wireless network assets owned by them within the scope of cooperation. CBN pays the charge for usage of network to China Mobile based on terms of fair and square negotiation between the two parties.

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