CHA China Telecom Corp Ltd

LONDON--Phorm Corporation Ltd. (PHRM.LN), an internet personalization technology company, said Monday it has signed a three-year memorandum of understanding, or MoU, with China Telecom Corporation Ltd. and certain of its associated group entities to become its preferred strategic partner in the field of 'Big Data' technology and advertising operations.

MAIN FACTS:

-Phorm is continuing to build its commercial operations and expects to launch with further ISPs in China later this year.

-China Telecom group has operations in 31 Chinese provinces and over 100 million broadband customers.

-Phorm shares at 0925 GMT up 1 pence, or 11%, at 13 pence valuing the company at 66 million pounds.

-Write to Ian Walker at ian.walker@wsj.com

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