Chinese state-owned telecom firms, China Telecom, China Mobile, and China Unicom, are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar US-backed project, Reuters reported, citing four. Chinese state-owned telecom firms, China Telecom, China Mobile, and China Unicom, are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar US-backed project, Reuters reported, citing four. Reuters says China's state-owned telecom firms are building a $500 million fiber-optic internet cable network on the sea floor. China Telecommunications Corporation (China Telecom), China Mobile Limited, and China United Network Communications Group (China Unicom) are planning the "world's most. China's three main carriers - China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd (China Unicom) - are mapping out one of the world's most advanced and far-reaching subsea cable networks, according to the four people, who. SINGAPORE (Reuters) - Chinese state-owned telecom firms are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U. -backed project, four people involved in the deal told Reuters. The plan is a sign that an intensifying tech war. China's reported construction of an undersea internet cable is a normal business activity to meet data transmission requirements and will also be beneficial to maintaining data security, said an industry analyst. Chinese state-owned telecom firms, China Telecom, China Mobile, and China Unicom, are.