China is home to the world’s largest towerco China Tower Corporation (CTC), as well as a fragmented but substantial ecosystem of 200+ independent towercos. CTC’s much anticipated IPO on the Hong Kong Stock Exchange has been delayed to 2018 (Q2 or Q3) from its original target of 2017 year-end, with a goal to raise US$10bn. Meanwhile, independent towercos have continued to grow organically, with plans for acquisitions, expanded business models, domestic IPOs and international footprint.
Market context
What are the number of 4G customers in China?
As of February 2018, China Mobile reported 661.83mn
