Zhongsen Tower and Ideanomics Response to China Tower Corporation's Clarification Announcement on June 30
Ideanomics' press release dated June 25, 2020 , announced a deal between Ideanomics' Mobile Energy Global subsidiary ("MEG") and Zhongsen Tower to establish Zhongsen Tower in Qingdao.
- Ideanomics' press release dated June 25, 2020 , announced a deal between Ideanomics' Mobile Energy Global subsidiary ("MEG") and Zhongsen Tower to establish Zhongsen Tower in Qingdao.
- At the end of that press release, Ideanomics referenced an entity named China Tower Holdings.
- China Tower Group, through its provincial divisions, is more accurately described as a company that works closely with, or in partnership with, Zhongsen Tower rather than "affiliated with."
- Zhongsen Tower Vice Chairman and President Guo Yonglei states, "Zhongsen Tower (Beijing) Telecom Company Ltd ("Zhongsen Tower") is 70% owned by Zhongsen Hongyun (Shenzhen) Industrial Development Co., Ltd, a subsidiary of ZhongNengYuan (China Energy) Power Fuel Company Limited a 100% State owned subsidiary of China State Power Corporation.