[ET Net News Agency, 11 January 2018] Morgan Stanley lifted its target price for
Hutchison Telecommunications (HutchTel)(00215) to HK$3.6 from HK$3.5 reflecting the lower
spectrum cost (from HK$2.5bn to HK$1.9bn), and maintained its "overweight" rating.
The research house expects HutchTel to distribute a sizable special dividend
(HK$1.5/share in its base case) following the disposal of HGC at 11x 2017 annualized
EBITDA multiple and receiving cash proceeds of HK$14.5bn. (KL)