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China Unicom profit to surge 50% in 2008

By Wang Xing (chinadaily.com.cn)
Updated: 2009-01-23 11:48

China Unicom, one of the country's smaller telecom operators, said on Jan 22 that its profit in 2008 is estimated to have surged 50 percent from a year earlier because of the sale of its CDMA business to China Telecom.

China Unicom sold its CDMA networks to China Telecom for 43.8 billion yuan ($6.40 billion) in October last year as part of the restructuring of the country's telecom industry.

The company also said the economic slowdown had impacted the company's business in certain regions in the second half of last year.