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MII Bans Telecom Firms Giving Licenses to JV Subsidiaries

The Ministry of Information Industry (MII) released a new guideline on last Friday at its website, saying it will ban telephone firms from transferring their licenses to joint ventures.

The ministry said any company holding only a 51 percent stake or below in a joint venture will not be allowed to transfer its license to that business.

"The joint venture will have to apply as a new entity," the ministry said.

Under the guideline, firms are not allowed to set up several joint ventures in a region doing same businesses.

(Agencies 08/21/2001)

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