China pledges to issue license to CITIC Pacific fibre network: report

HONG KONG (AFX-ASIA) - The State Council has promised to issue a license to the CITIC Pacific 60 pct owned nationwide fibre backbone network, the Sing Tao Daily cited industry sources as saying.	    The sources said it is possible CITIC Pacific will secure the license by the end of this year.	    According to the CITIC Pacific website, the total investment in the 32,000 kilometre fibre backbone network is 2 bln yuan.	    Meanwhile, the sources said the company is in talks to acquire a power plant in China but that no details of the acquisition were available. 

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