Foreign telcos seeking stake in China Telecom - report

China Telecom, the biggest fixed line telephone carrier in China, is in talks with five potential foreign investors for a possible stake in the company, a SinoCast report said.


The report quoted William Li, an investor relationship official with China Telecom, as saying that the investors were also looking at getting a possible stake in China Telecom, particularly in the carrier's 3G business.


"The issue is just in its early stage because we have to get the 3G mobile license first," Li was quoted as saying.


The executive, however, declined to reveal the names of the potential investors.


A report from Sing Tao had earlier said NTT DoCoMo, France Telecom, Deutsche Telekom, Verizon Communications, and SingTel were eyeing a stake in China Telecom.