The Ministry of Information Industry (MII) released a new guideline on last Friday at its website, saying it will ban telephone firms from transferring their licenses to joint ventures.
The ministry said any company holding only a 51 percent stake or below in a joint venture will not be allowed to transfer its license to that business.
"The joint venture will have to apply as a new entity," the ministry said.
Under the guideline, firms are not allowed to set up several joint ventures in a region doing same businesses.
(Agencies 08/21/2001)
