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To: foundation who wrote (91940)	1/15/2001 10:16:31 PM
From: Cooters	Respond to of 152472

RESEARCH ALERT-Goldman cuts China Unicom target price --From AOL. Will be interesting to see if this one creeps into the CDMA network press coverage.-- Cooters HONG KONG, Jan 16 (Reuters) - Goldman Sachs said its has reduced its 12 month price target for China's number two mobile operator, China Unicom Ltd <0762.HK>, to HK$19 from HK$22.25 previously, but maintained its "market outperformer" rating on the stock. The reduction in the target price is due to the longer-term negative impact of leased-line tariff reductions on the mobile and paging services operator's long distance and data business, the investment bank said in a research report dated January 15. Goldman Sachs said it has reduced its long distance and data revenue estimates for China Unicom from 2001 onwards. It forecasts total long distance and data revenues for China Unicom to be 3 billion yuan (US$362 million) in 2001, down 41.6 percent from its previous estimate; and 6.61 billion yuan in 2002, down 38.8 percent on the back of lower leased-line revenues and reduced income from domestic long distance and international calls. China Unicom shares closed at HK$11.35 on Monday, down 30 H.K. cents, or 2.57 percent, on the day. (US$ = 8.28 yuan) 20:27 01-15-01