Montreal Wireless Company Close to Reaching Compensation Settlement With China Unicom

Telesystem International Wireless (TIW) of Montreal is close to a settlement of its claim for compensation with China Unicom over a mobile phone network joint venture. TIW was one of many foreign companies which entered into joint ventures with the Chinese company in the mid-1990s, only to have them ruled illegal by Beijing in 1998. The TIW settlement will see the company receive at least its original US$25 million investment in Hunan Huajia Telecommunication Engineering. Hunan Huajia Telecom is 49% owned by TIW, with the rest held by China Communication System and Changsha Electronic Industries. China Unicom, which is China's second-largest telecoms company, is expected to begin paying up to US$1.4 billion in compensation to telecommunications firms in the West as a result of the Beijing ruling.

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