Cisco’s China stake

Networking giant Cisco has invested US$50million in China Communications Services Corporation (CCS)

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By  Published  December 23, 2006

(Beijing) Networking giant Cisco has invested US$50million in China Communications Services Corporation (CCS), a Chinese telecoms services company.The investment is its largest direct investment in China to date. Under the deal, Cisco will take a minority stake in the company, which was recently spun off and taken public by some of China’s top telecoms groups, including China Telecom, China Mobile, and China Unicom. Executives from the two companies will provide business customers in China with a range of telecoms services, including digital video. “China is an extremely important market for Cisco and, in co-operation with CCS, we intend to make China one of the most connected countries in the world,” said Owen Chan, senior vice president of Cisco’s Asia Pacific region.

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