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China telecom operators see over 100 mln yuan in snowstormrelated losses

Date: 1/30/2008 10:53:10 PM

Chinas major telecom operators are expecting combined direct losses of over one 100 mln yuan due to the severe winter weather of the past week.

China Telecom, the countrys largest fixedline operator, said in a statement on its web site that its losses were 56.9 mln yuan as of Jan 28, largely as a result of network damage.

China Netcom (NYSE:CN) reported direct losses of 3 mln yuan as of Jan 29.

Mobile operator China Unicom estimated its losses at 45 mln yuan as of Jan 29, noting that its base stations in southern China have experienced power cuts.

China Mobile, the leading mobile operator, did not provide a financial estimate but said about 6,800 base stations have been shut down.
 

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Source: http://money.cnn.com/news/newsfeeds/articles/newstex/AFX001322657537.htm


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