Cisco invests $50 million in Chinese company
Cisco Systems Inc. announced a $50 million investment Wednesday in the newly public China Communications Services Corporation Ltd., making the U.S. network-equipment maker the largest foreign investor in CCS.
CCS, formerly a subsidiary of the state-controlled China Telecom Group, went public earlier this month on the Hong Kong Stock Exchange. CTG, as well as state-controlled China Mobile and China Unicom, are the other big investors in CCS.
CCS helps large Chinese service providers such as China Netcom design and build Internet and other telecommunications networks.
