China Unicom H1 profits grow over 100%

China Unicom, second-largest mobile phone carrier in China, reported its first-half profit soared 109%.

An Associated Press report also said the carrier was close to completing a planned merger with a fixed-line carrier.

Earnings for the six months through June 30 were 4.4 billion yuan (€436.7 million, US$642 million), up from 2.2 billion yuan (€218 million) in the same period last year, the Beijing-based company announced.

Revenue rose 4% to 35.1 billion yuan €3.4 billion (US$5.1 billion), the Associated Press report added

China Unicom is in the midst of a proposed merger with fixed-line carrier China Netcom that is part of government plans to restructure China's telecoms industry.

The others will be formed around China Unicom's bigger rival, China Mobile, and China's biggest fixed-line carrier, China Telecom.

Shareholders are to vote on the plan on September 16, the company said. The merger is to be carried out through a €38.2 billion (US$56.3 billion) share swap.

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