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Friday, October 24, 2014

China Telecom, Unicom to build content delivery firm - Chinese paper, (NYSE: CHA)

China Telecom Corp Ltd and China Unicom Hong Kong Ltd could soon jointly invest in a new content delivery network (CDN) company that would speed up Chinese users' Internet access, a Chinese paper reported on Friday. The proposed firm would be run by China Telecom's cloud computing subsidiary, according to a 21st Century Business Herald report citing an unnamed senior China Telecom employee.Rumours of a CDN joint venture between the country's second- and third-largest carriers have existed for more than year.Telecom and Unicom did not immediately respond to requests for comment.Founded in 2012, Telecom's cloud computing unit released its first cloud-based CDN product late last year, when China's e-commerce giant Alibaba Group Holding Ltd also marched into the CDN market.

China Telecom Corporation Limited (China Telecom) is full services integrated information service operator in the People?s Republic of China. Shares of CHA fell by 1.54% or $-0.94/share to $60.21. In the past year, the shares have traded as low as $40.25 and as high as $66.85. On average, 45262 shares of CHA exchange hands on a given day and today's volume is recorded at 22862.