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China Telecom Profit Gains 12% on Mobile Subscriber Growth

China Telecom Corp., the country’s biggest fixed-line carrier, reported second-quarter profit rose 12 percent as its mobile-phone unit increased its subscriber base by almost half.

Profit excluding gains from connection fees rose to 5.09 billion yuan ($796 million) in the three months ended June 30, from 4.54 billion yuan a year earlier, the Beijing-based company said in a statement on its website today. That was in line with the 5.05 billion-yuan average of six analysts’ estimates compiled by Bloomberg.