hackingbear writes: Instead of resting on its laurels as China's third-largest wireless provider, China Telecom is now looking to branch out into relatively uncharted waters — namely, the US consumer market. The proposed service would provide customers with handsets that could be used in both China and the US, theoretically appealing to Chinese-Americans, students or businessmen who travel frequently between the two countries, and would even consider purchasing or constructing its own network in the States, with the capacity to spend "hundreds of millions or billions" on stateside acquisitions. At its home turf, despite being a state-owned company, China Telecom, along with China Unicom, are being investigated over alleged monopolistic practices by the Chinese government. The two companies would face penalties of up to 10 percent of their annual business revenues if they were found guilty of monopolistic practices. This is the first such investigation into China's large enterprises since the Anti-Monopoly Law came into effect in 2008.