Tuesday, August 22, 2006

China Netcom Completes Sale of Asia Netcom to Investor Group

China Netcom Group completed the sale of its Asia Netcom to an Investor Group led by Ashmore Investment Management Limited, Spinnaker Capital Limited and Clearwater Capital Partners.

The total value of the deal is at US$402 million.


  • In March 2006, Asia Netcom completed a major network upgrade that will bring a 50% increase in lit capacity to its pan-Asia submarine cable systems, EAC. As part of the upgrade, 10 Gbps was lit up on each of EAC's four fiber pairs, effectively adding 40 Gbps of new bandwidth to EAC's existing 80 Gbps. The EAC system spans 19,500 km within Asia connecting Korea, Japan, Taiwan, Philippines, Singapore, Hong Kong and soon, China.

  • China Netcom purchased the former Asia Global Crossing and launched Asia Netcom in 2003.