China Telecom’s unit plans to buy 23.08% stake in quantum information products provider QuantumCTek in a bid to beef up its quantum technology business, according to a filing.
- Under the deal, China Telecom’s wholly-owned unit China Telecom Quantum Group agreed to subscribe 24.1m non-publicly traded domestic A-shares of QuantumCTek for 78.94 yuan each
- Meanwhile, China Telecom Quantum Group reached an acting-in-concert agreement with QuantumCTek shareholders USTC Holdings and
Peng Chengzhi , to jointly hold a total of 41.36% shareholding voting rights and become its controlling shareholder
To contact the reporter on this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.