
Cncbb
Defunct telecommunications and broadband services provider.
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
Total Funding | 000k |
China Netcom Group Corporation (Hong Kong) Limited, also known as CNC, was a telecommunications service provider founded in 1999. The company was formed by the Chinese government to facilitate inward investments for building high-speed internet infrastructure in China. Initially, it acted as a wholesaler for high-speed data networks. Following a government-led breakup of the China Telecom monopoly in 2002, China Netcom merged with the northern operations of the former China Telecom, as well as Jitong Communications. This strategic move positioned CNC as the second-largest fixed-line operator in mainland China, primarily serving the northern provinces.
The company's core services included fixed-line telephone services (local, domestic, and international long distance), broadband and internet-related services such as DSL and LAN, and business and data communications. It was the dominant provider of these services in its northern service region, which included major areas like Beijing and Tianjin. China Netcom also operated an extensive fiber-optic network connecting major cities in the Asia-Pacific region. The company listed on the Hong Kong and New York Stock Exchanges in November 2004.
As part of a major restructuring of China's telecom industry, China Netcom merged with China Unicom. The merger was completed on October 6, 2008, after which China Netcom became a wholly-owned subsidiary of China Unicom and was delisted from the stock exchanges. The deal, valued at approximately $24 billion, created a combined entity with integrated mobile, fixed-line, broadband, and data services. China Netcom was also the official telecommunications operator for the Beijing 2008 Olympic Games.
Keywords: telecommunications, fixed-line operator, broadband services, internet service provider, China Netcom, CNC, China Unicom merger, data communications, Asia-Pacific network, Jitong Communications, Beijing 2008 Olympics, state-owned enterprise, voice services, international data services, northern China telecom