China Unicom’s wholly owned subsidiary, China Unicom Corporation Limited (CUCL), has entered into an agreement with China United Telecommunications to buy the latter’s cellular telecom assets in China’s south-western province of Guizhou for $118.7 milli

China Unicom’s wholly owned subsidiary, China Unicom Corporation Limited (CUCL), has entered into an agreement with China United Telecommunications to buy the latter’s cellular telecom assets in China’s south-western province of Guizhou for $118.7 million. China United Telecommunications is China Unicom’s parent company. The purchase of GSM networks and other assets will enable CUCL to expand its cellular operations to cover all provinces, cities and autonomous regions in China and increase its profitability. As per the agreement, CUCL will also rent and operate China United Telecommunications’ CDMA network in Guizhou. According to China Unicom, the agreement is only awaiting regulatory approval.