(SinoCast China Business Daily News via NewsEdge) Despite recent reports that China's state-owed assets supervisor has agreed to merge China Satellite Communications Corp. (China Satcom) with China Aerospace Science and Technology Corp. (CASC), no confirmation has been made by any China Satcom official.
China Satcom is one of the nation's six basic telecom service providers, mainly engaged in satellite-based broadcast and communications services, while CASC is the main contractor for the Chinese space program.
The merger rumor started when China Satcom appointed a new general manager, Rui Xiaowu, who was most previously vice general manager at CASC.
An industry insider said, however, that the appointment of the former CASC official in China Satcom was not indicative of a merger, and that the rumor was "ridiculous."
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