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Speculation Builds on China's Telecom Overhaul

The Chinese government may be close to approving an industry restructuring, which will precede issuing licenses to operate 3G services

Speculation increased that Beijing is close to approving a long-waited telecoms sector overhaul that benefits fixed-line operators such as China Telecom , propelling their shares higher, a Reuters report said.

Shares in perceived short-term loser China Mobile fell, the Reuters report also said.