China Telecom HK Keeps Upbeat on Purchase of Six Provinces Assets.

(From SinoCast China IT Watch)

CHINA, November 05, SinoCast -- The management team of China Telecom Corp. Ltd., China's fixed line telecom operator listed on Hong Kong and New York stock exchanges, expressed that they feel upbeat and confident on the acquisition of assets of six province-level companies from its parent company China Telecom Group.

China Telecom Corp. will pay RMB 46 billion by cash and undertake the liabilities of RMB 34 billion to get assets of the six companies.

Wu Di'an, executive vice president and CFO of China Telecom Corp. said the firm adopts international accounting standards to deal with the books. It is no need for it to …