China Netcom is planning to divest its stake in its 50per centowned broadband joint venture with Hong Kong-based telecom company PCCW for $41 million.

China Netcom is planning to divest its stake in its 50 per centowned broadband joint venture with Hong Kong-based telecom company PCCW for $41 million. The sale offer is open till March 2007. While PCCW had management control of the broadband venture, which operated in Hangzhou and Ningbo, China Netcom is the second largest shareholder in PCCW with 20 per cent stake in the company.