Hongkong Telecom appears to be doing little to dissuade people that 54 per cent owner Britain's Cable & Wireless is considering changing the company's name to Cable & Wireless (C&W) Asia. There is even talk of $300 million being put aside to pay for the different paint jobs, changes of stationery, business cards and the like. Of course, the cost of the change is much larger than simply a new paint job. What about two decades of wasted billion-dollar advertising campaigns spent building the Hongkong Telecom brand name? One wonders what China Telecom must make of this. And what of the idea that both C&W and China Telecom eventually will become equal shareholders in Telecom? It seems unlikely that Beijing would tolerate joint control of a company with such colonial overtones built into its name. Far from getting closer to China, the title C&W Asia suggests the opposite. Part two of any China Telecom-C&W deal looks as far off as ever. China Telecom (Hong Kong) chief operating officer Li Ping confirmed this week it had no immediate plans to increase its 13 per cent share in Telecom. Mr Li said that as the mainland was unlikely to open its telecoms market within five years, 'we feel the development of the Hong Kong market as well as Hongkong Telecom is limited'. Most analysts agree that any China premium to Telecom's share price is fading fast, although one thought there were a few 'fools on the hill' who believed it was worth paying extra for Telecom's mainland potential. Back to the name. What would make sense is to form a holding company called C&W Asia which could sit between Telecom and head office in London. As well as Hong Kong, C&W has interests in cellular operator MobileOne in Singapore, Optus in Australia and smaller operators in Indonesia and the Philippines, all of which could be grouped into it. As pagers continue to wane in popularity, the trick for operators is to find more value-added functions to keep customers from swapping to mobile phones. Chevalier is the latest to offer an array of extra information through the pager. Share and foreign exchange prices, traffic and weather reports, horse racing and property news are included in the service. The company said its high-speed pager could receive up to 3,700 pages of data. One person in three in Chengdu, capital of Sichuan province, now has a phone according to Xinhua news agency. This amounts to one million subscribers. In the past five years Chengdu had invested five billion yuan (about HK$4.65 billion) in upgrading telecoms infrastructure, it said. This year it planned to raise capacity by 800,000 lines, with cellular subscribers hitting 750,000.