China Netcom and PCCW to collaborate

China Network Communications http://www.chinanetcom.com.cn and PCCW http://www.pccw.com have formally agreed to pursue business ventures as part of their new 1 billion dollar alliance. As the Wall Street Journal (WSJ) http://www.wsj.com reports, Zhang Chunjiang, the China Network chairman, said that the two companies could collaborate in areas such as broadband television, mobile phone service and real estate. They could also combine parts of their international businesses. It is, however, unknown, when any new ventures will get off the ground. PCCW, which doesn't currently offer mobile phone services, will be China Network's "most selected partner, added Zhang.