Jul 03, 2012 06:23 PM

China Telecom Completes Fund-raising for Online Video Branch

By intern reporter Tan Min

(Beijing) – China Telecom, one of the country's top telecom operators, has completed the first round of financing for its online mobile video branch, as the company restructures its value-added service subsidiaries.

An employee of China Telecom's Shanghai branch said that Tianyi Shixun Media Co., the China Telecom business division that develops mobile video service and the Internet video portal tv189.com, has secured 380 million yuan from China Merchants China Direct Investments Ltd. and other investors.

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