wahz. Would be nice for Q.
China Unicom unveils $14.6 billion 3G capex plan
By MarketWatch
Last update: 6:25 a.m. EDT Aug. 13, 2008Comments: 1HONG KONG (MarketWatch) -- China Unicom Ltd. Wednesday said it plans to spend about 100 billion yuan ($14.58 billion) in building out its third-generation wireless network across China in the two years to 2010, a figure which surprised the market, sending its Hong Kong-listed shares down sharply.
Analysts said the large capital expenditure figure raised concerns the firm could face large depreciation charges in coming years, which would impair the firm's profitability.
Shares in the telecom (HK:762: news, chart, profile) (CHU:china unicom ltd sponsored adr
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Last: 19.48-0.53-2.65%
4:02pm 08/12/2008
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CHU 19.48, -0.53, -2.6%) giant fell 4.3% to close at HK$14.80 ($1.90) Wednesday, taking its three-month decline to 11.6%.
The disclosure was made on page 38 of a lengthy corporate statement covering a range of issues that was submitted to Hong Kong securities regulators Wednesday.
Qualcomm Inc. (QCOM:QUALCOMM Incorporated
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Last: 54.21-0.21-0.39%
4:00pm 08/12/2008
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QCOM 54.21, -0.21, -0.4%) and ZTE (HK:763: news, chart, profile) could act as suppliers to China Unicom, analysts said.
Shares in the telecom's parent, China United Telecommunications Co., closed 2.5% lower at 5.85 yuan in Shanghai trading Wednesday.
China Unicom said it expects to receive a 3G license following its merger with China Netcom Group Corp. (HongKong) Ltd. (HK:906: news, chart, profile) (CN:china netcom group corp hk l sponsored adr
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Last: 58.32-1.25-2.10%
4:00pm 08/12/2008
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CN 58.32, -1.25, -2.1%) . The merger between the two firms was directed by government regulators as part of an industry restructuring announced in May.
China's telecom regulator has said it will issue three nationwide 3G licenses as part of the industry restructuring. Additional recipients for the next-generation cellular services are believed to include China Mobile (CHL:china mobile limited sponsored adr
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Last: 58.78-4.76-7.49%
4:02pm 08/12/2008
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CHL 58.78, -4.76, -7.5%) (HK:941: news, chart, profile) and China Telecom Corp. (CHA:china telecom corp ltd spon adr h shs
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Last: 51.16-1.92-3.62%
3:59pm 08/12/2008
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CHA 51.16, -1.92, -3.6%) .
Three nationwide carriers will offer both fixed-line and wireless services once the restructuring is completed, consolidating the services of six state-owned cellular and fixed-line operators currently in operation.
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