Domestic mobile phone maker CEC Telecom said Thursday it was aiming for an initial public offering on the NASDAQ stock market in the fourth quarter, raising up to US$150 million. CEC Telecom, a unit of telecom equipment producer Qiao Xing Universal Telephone Inc., had already raised US$60 million via a private placement ahead of the planned NASDAQ listing, company chairman Wu Zhiyang said in a statement.

ZTE Corp, China¡¯s second-largest telecom equipment maker, plans to build a wireless network based on the CDMA standard in India with salt-to-software conglomerate Tata group. Under its strategic alliance, ZTE said it would exclusively supply equipment for Tata-Indicom to build networks based on CDMA 2000 technology throughout India¡¯s rural areas over the next two to three years.

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