China Netcom Group Corp (Hong Kong) Ltd said it expects to complete before the end of this month a 3.5 bln yuan sale of its telecom assets in Guangdong and Shanghai to parent China Netcom (Group) Co Ltd.　

It said that more than 99.99 pct of the company's shareholders voted yesterday in favor of the deal.

The assets the company is selling to its parent comprise various telecommunications assets and business operations in Guangdong and Shanghai.

China Netcom said earlier that it expects to achieve better financial results once it sells its unprofitable telecoms services in Shanghai and Guangdong.