China Telecom Corporation Limited (SEHK:728) signed an agreement to acquire 7.6% stake in China Publishing & Media Holdings Co., Ltd. (SHSE:601949) for approximately CNY 830 million on July 30, 2021. As per terms of transaction, China Telecom Corporation Limited will acquire 138.6 million shares. Within 5 working days after the agreement becomes effective, China Telecom Corporation Limited must pay the full transfer price to the seller's designated account.

This transaction was already approved by China Publishing Group Corp.‘s party committee meeting, general manager office meeting. This transaction was approved by China Telecommunications Corporation's party committee meeting, general manager office meeting.