Portugal Telecom (PT) is stepping up its plans to enter the Chinese mainland mobile market, creating a new holding company, Asia PT, to control all its investments in the region. PT initially aims to spend EUR15 million to deploy a data network for logistical tracking, in partnership with the Chinese administration, and believes the venture will prove beneficial for the forthcoming privatisation of China’s telecommunications sector. In October 2004 the Portuguese operator met with officials from China Mobile, China Unicom, China Netcom and China Telecom to discuss future investment possibilities in the region.
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