P Phone secures virtual operator rights from China Mobile
Published January 4th, 2008
(TP) China-based marketing and sales company P Phone has won the right to operate as a virtual network operator for China Mobile in the Jiangxi province and has also bought a 70 percent stake in Jiangxi Hongcheng Tengyi Telecommunication, a local reseller of mobile minutes. The total consideration for the agreement with China Mobile and Communications Association, the partner which arranged the deal, is USD 6 million. P Phone claims it is the first such provincial operator without its own network in China. The company plans to launch services early this year and also plans to rename itself to P Phone Mobile Networks, rather than from Asia Premium Television Group to P Phone, as previously disclosed.
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