Buy marks lift-off for Neo's telecom plan

Neo Telemedia, a listed seller and distributor of telecommunication products, said it would buy HCH Investments for HK$273 million as the first step of transforming Neo into a telecom operator.

"We'd like to be a light telecom operator whose service is based on the internet and satellites," Neo chief executive Zhang Xinyu said.

He said that unlike "heavy" telecom operators, "light" operators did not need to put large sums of money into fixed assets.

via Business feed http://www.scmp.com/business/companies/article/1124251/buy-marks-lift-neos-telecom-plan