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Strategies & Market Trends : China Telecom Ltd (CHL)

CHL 27.51

0.0%

Sep 27 5:00 PM EST

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To: Paul Shread who wrote (60)	4/27/1998 3:03:00 PM
From: Paul Shread	Read Replies (1) of 149

Looks to me like they reported April 14, oddly enough, for the quarter and year ending Dec. 31. I don't know how anyone's translation is, but the report says earnings were Rmb 17 cents for the quarter and Rmb 52 cents for the year. First Call seems to be reporting $1.09 U.S. per share (I believe that's in line with estimates, give or take a penny). Subscribers increased 67% over 1996. Network usage increased 43%. The company "dramatically expanded its GSM digital network in addition to improving and optimizing its TACS analog network." Company maintained a combined market share of more than 97.5% of the cellular market in Guangdong and Zhejiang provinces. At penetration rates of 3.57% and 2.04%, respectively, "the Group believes that the market still has the potential for major growth." The group is "exploring strategic investment opportunities" in China's telecom market, and is "currently in discussions ... about acquiring a cellular telecommunications business in Jiangsu province."

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