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To: marginmike who wrote (51754)	11/26/1999 12:35:00 AM
From: Ruffian	Read Replies (2) \| Respond to of 152472

HK's Hutchison To Set Up Logistics JV In China -Newspaper HONG KONG -- Hutchison Whampoa Ltd. (H.HUW) is to set up a joint venture to develop a logistics and distribution network in China, a Hong Kong newspaper reported Thursday. The Hong Kong Economic Journal quoted unnamed sources saying that the conglomerate will own a 20% to 30% stake in the new venture, jointly set up with Hua Tong Distribution & Industry Development Corp. Hua Tong is to transfer part of its stake to Ocean-Land Group Ltd. (H.OLD), which is listed in Hong Kong and is 8.2%-owned by Hua Tong. Ocean-Land Group Company Secretary Kelly Liu told Dow Jones Newswires that his company in talks with a second party in developing a logistics and distribution network in China, but declined to be more specific. The Hong Kong Economic Journal also quoted unnamed sources saying that Hutchison is in talks with China Unicom to will start developing Unicom's CDMA (code division multiple access) mobile phone network on the mainland. Hutchison's spokespeople couldn't be reached immediately for comment. The article said the CDMA network is expected to handle nine million subscribers. China Unicom, the country's second-largest state-owned telephone company, said earlier that it will invest 7 billion yuan ($1=CNY8.2781) in building its CDMA network.