Datang Telecom in venture with SK

Datang Telecom Technology Co., whose affiliate is working with Siemens AG to develop China’s own high-speed mobile-phone standard, said it set up a venture with a unit of SK Telecom Co., South Korea’s biggest mobile-phone company. The venture with SK Teletech Co. and a Chinese company is based in Xinjiang, northwestern China, Datang said in a statement to the Shanghai stock exchange. The statement didn’t give financial or other details. SK Teletech will establish a $25 million venture to sell handsets based on the code division multiple access, or CDMA, technology after receiving Chinese government approval, the Korea Economic Daily said, citing an unidentified company official. Teletech will take a 60 percent stake in the venture and will start selling handsets next year, it said.