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Credit Suisse maintains “outperform” rating on China Netcom PDF Print E-mail
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Thursday, 23 August 2007
BEIJING, Aug. 23 (InfoChina) – Credit Suisse maintained its “outperform” rating on China Netcom Ltd. (NYSE: CN, 0906. HK) but lowered its target price from 26.5 HK dollars to 25 HK dollars, after China Netcom released its financial report for the first half of 2007.

According to the report, China Netcom’s revenue was four percent lower than former prediction in the period, due to FMS (fixed-to-mobile substitution) effect and cut of telecom charges.

Credit Suisse said the company’s share price will be supported mainly by potential merger and pending issuance of 3G licenses.  (Edited by Li Xiaoyu, )
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