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BRIEF-China Telecom Opens To Talks On Co-building 5G Network, Sets 5G Capex at 9 Bln Yuan

Aug 22 (Reuters) - China Telecom Corp Ltd:

* SAYS IT HAS REACHED "HIGH LEVEL OF MUTUAL UNDERSTANDING" ABOUT CO-BUILDING 5G NETWORK WITH CHINA UNICOM HONG KONG LTD

* SAYS OPEN TO TALKS WITH OTHER PLAYERS INCLUDING CHINA MOBILE

* SAYS CO-BUILDING AND SHARING WILL SAVE COSTS AND IMPROVE EFFICIENCY

* SAYS IT IS CONDUCTING TESTS WITH CHINA UNICOM ABOUT TECHNICAL SOLUTIONS FOR CO-BUILDING THE NETWORK

* SAYS IF CHINA MOBILE JOINS FOR A THREE-PARTY CO-BUILDING IN LOW DENSITY AREAS THERE COULD BE EVEN GREATER SAVINGS

* SAYS 2019 5G CAPEX BUDGET REMAINS UNCHANGED AT 9 BILLION YUAN ($1.27 billion) Further company coverage: ($1 = 7.0863 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)