CICC REPORT WARNS OF HUGE LOSS FOR UNICOM
AsiaInfo Services, September, 2002
AsiaInfo Services 09-23-2002 CICC Report Warns of Huge Loss for Unicom CHINA, Sep 23, 2002 (AsiaPort via COMTEX) -- China Unicom Corp. is likely to lose up to 1 billion yuan (US$120 million) this year in its CDMA sector, which though may rake in 240 million yuan profit next year for the company, warns a late research report by the China International Capital Co Ltd (CICC). CICC, underwriter of China Unicom for its A-share offering, has mailed the report to some investment institutions yesterday, the day after China Unicom staged a road show for the share float. With the development of the CDMA business, the growth rate of the sector of GSM, the currently dominant telecom technology in China, will slow to a yearly 8.4 percent in three years, the same report said. ...
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