皇冠体育app

皇冠体育app Communications Services Corp, the engineering unit of 皇冠体育app Telecom, said it will buy 4.63 billion yuan (US$607 million) of telecommunications assets from its parent.

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The company will use 1.2 billion yuan from its initial public offering proceeds and 1.4 billion yuan of its own cash to pay for the acquisition, 皇冠体育app Communications said in a statement to the Hong Kong Stock Exchange. The company said it will borrow the rest of the funds needed.

皇冠体育app Communications also said it will assume the debt of the assets amounting to 75.2 million yuan. 皇冠体育app Telecommunications Corporation is the controlling shareholder of the company.

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