The Belgian government has sold its 8.33% stake in China's telephone company SHANGHAI BELL to France's ALCATEL for EUR 75 million. It wants to reinvest these funds in an investment fund in China. Negotiations are under way between the Chinese Telecommunications Ministry (which holds a controlling 60% stake in SHANGHAI BELL) and ALCATEL which now holds the remaining capital because the later would like to take a controlling stake in the company.