As Xiaomi completes five years, Mi India announces partnership with Snapdeal and Amazon

New telecoms towers Infrastructure Company could be set up by the Chinese government with at nearly a million towers at its start.

The new company would be formed from assets already owned by the country's three state-controlled mobile networks, and would enable them to book a one-off accounting gain of aroundUSD24 billion from the effective sale and lease-back agreement.

The three mobile networks, China Mobile, China Telecom and China Unicom have already set up a joint tower management company to handle the construction of a joint infrastruture network.

"We are taking the view that all ground-based towers of all three operators are to be injected into the tower company at one go," a Barclays analyst, Anand Ramachandran, told the South China