China Putian Corporation, a state-owned IT and telecom company, has transferred stakes in three of its listed subsidiaries to China Putian Company Limited, its wholly owned unit, prior to an overseas listing. China Putian Corporation has agreed to transfer 53.49 per cent in Nanjing Postal Telecommunications Company, 60 per cent shareholding in Chengdu Putian Telecommunications Cable Company and its entire 42.22 per cent stake in Shanghai Posts and Telecommunications Equipment Company to China Putian Company. The move is aimed at putting together all the telecom-related assets from its subsidiaries under one management system to enhance its competitiveness.
