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Europe

China Telecom Still Talking Euro M&A

6:15 AM -- With talk of grand M&A plans and new business opportunities far from its domestic market, China Telecom Corp. Ltd. (NYSE: CHA) is eager to court media attention in Europe.

So far, however, it has done little to merit much coverage.

The operator is looking to acquire an ICT services provider in the EMEA region to gain better brand awareness among corporate customers and grow its international operations, a strategy Light Reading reported nearly a year ago. (See China Telecom Plans Euro M&A.)

Since then, the company has seen a few prospects for potential acquisitions, but it has not yet made a move. The operator has "no pressure on timeline or budget" for European M&A, according to Ou Yan, managing director for China Telecom Europe.

The operator recently refined its European strategy with plans to offer MVNO services in the U.K., but further details about the new service -- such as the identity of its U.K. mobile operator partner or its marketing strategy -- are not being revealed. (See Euronews: China Telecom Eyes UK Market.)

As a result, China Telecom Europe remains a bit-part player, with 2010 revenues of £13 million (US$21 million), half of which came from enterprise customers and half from carrier customers, while 2011 revenues are expected to be around £18 million ($29 million).

— Michelle Donegan, European Editor, Light Reading Mobile

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