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China Electronics auctions its cable TV networks

China Electronics Corporation, one of the country's largest State-owned IT companies, listed its 45-percent stake in China Cable Television Network Co Ltd -- priced at 450 million yuan ($66 million) -- on the Beijing Equity Exchange yesterday, according to theChina Business News.

CEC to Take over Philips' Mobile Phone Business

China Electronics Corporation (CEC), one of the state-owned conglomerates, has signed an agreement with Royal Philips Electronic (Philips) to take over Philips's mobile phone business.