Pacnet seeks to expand in China, signs JV with Zhong Ren

08 Jul 2008

Telecommunications firm Pacnet signed a joint venture with China-based firm Zhong Ren Telecom, to offer internet protocol services to Chinese companies and expand its presence in the country, a Reuters report said.

Pacnet and Zhong Ren Telecom will each hold a 50% stake in the joint venture, the report said.

The two firms did not disclose financial details.

Pacnet, formed from China Netcom's former Asia Netcom unit and Singapore internet services provider Pacific internet, teamed up with a group of companies including Google and SingTel in February to build a trans-Pacific undersea cable, the report further said.

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