There has been a big shake-up in the Chinese telecom operators, I am guessing mostly because of a corruption scandal that is brewing out there. Who all is it going to take out? Donald Straszheim, an economist who tracks China says “The #1 person at China Telecom retired. The #1 at Mobile went to become #1 at Telecom. The #1 at Unicom (the worst performing) went to #1 at Mobile (the best performing). The #2 at Unicom became #1 at Unicom. Consider. No official explanation is yet available. No such action has ever occurred since China’s SOEs have been traded as ADRs. Such bureaucratic shuffles still occur in the government, but the SOE carve-outs are supposed to be different.”
[Via SiliconBeat.]