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Google Inc. won the right to sell advertising on 400 Web sites owned by China Telecom Corp., helping it compete with Microsoft Corp. and dominant local rival Baidu.com Inc. in the world's second-biggest Internet market.
The operator of the world's most-used Internet search engine and China Telecom, the country's biggest Internet service provider, signed an agreement to share revenue from the online ads, Mountain View, California-based Google said today in an e- mailed statement, without elaborating on financial terms.
The accord, Google's third partnership with a Chinese telecommunications carrier in the past year, may help the company close the gap on Baidu. Online ad sales in the country may surge more than sevenfold to $3.1 billion in 2011 from $420 million in 2005, Credit Suisse Group estimates.
Google Does Deal to Sell Online Ads on China Telecom Web Sites [bloomberg.com]