Stocks News
- China Netcom to open up 4.6% on asset sale
Date: 17-Jan-2007 Sources: (Shenzhen Daily)
CHINA Netcom Group Corp., the smaller of the country's two fixed-line operators, jumped 4.6 percent to HK$19.90 in pre-open trade yesterday after saying it would sell its loss-making telecoms assets in Guangdong Province and Shanghai to its State-owned parent for 3.5 billion yuan (US$449 million).
The company is expected to post a profit of 711 million yuan from the disposal of the fixed-line telephone services units based on the assets' net asset value of 2.79 billion yuan as of the end of June last year, it said in a statement.
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