China Telecom will reportedly purchase three subsidiaries of its parent company, China Telecommunications, for $185 million.

China Telecom will reportedly purchase three subsidiaries of its parent company, China Telecommunications, for $185 million.

These are the Hong Kong-based China Telecom, the US-based China Telecom and China Telecom System Integration. The move will not only enable China Telecom to reduce operational costs, but also expand overseas. Post-acquisition, China Telecom is planning to expand its coverage to include 13 more regions.

The transaction is awaiting approval.