China Telecom (Hong Kong) has gone to Goldman Sachs & Co and China International Capital Corp to handle its initial public offering, the largest ever for a so-called red chip company in Hong Kong. China Telecom acquired 5.5% of Hong Kong Telecommunications Ltd from Cable and Wireless Plc a few weeks ago, and has 62 […]
China Telecom (Hong Kong) has gone to Goldman Sachs & Co and China International Capital Corp to handle its initial public offering, the largest ever for a so-called red chip company in Hong Kong. China Telecom acquired 5.5% of Hong Kong Telecommunications Ltd from Cable and Wireless Plc a few weeks ago, and has 62 million telephone subscribers, including 6.85 million mobile subscribers. Tax revenues paid to the Chinese state last year from the company exceeded $12bn, according to Dow Jones.
