CCT Telecom to acquire stake in Xinhua Internet operator

CCT Telecom Holdings said it would acquire 3 per cent of a Chinese Internet company from an arm of the Xinhua news agency for US$6.4 million. CCT will buy the stake in China Internet Communications from a subsidiary of Golden Tripod (Holdings), the Hong Kong-based window company of Xinhua. Other strategic shareholders in China Internet Communications include New World Infrastructure, AT&T, Sun Microsystems, Bay Networks, and Mitsui.