[ET Net News Agency, 22 January 2018] HSBC Global Research tweaked its target price for
Hutchison Telecommunications HK (00215) to HK$3.66 from HK$3.64, and maintained its "buy"
rating.
The research house believes HTHK timed the disposal of its fixed-line business HGC well.
It has not yet issued guidance on what it will do with the proceeds, but it is exploring
all options. HSBC favours a special dividend, and sees limited opportunities for value
creation in M&A outside Hong Kong. In the domestic market, M&A is feasible but it looks
difficult to get past holding company differences and rivalries.
Following the disposal of the fixed-line business, Hutchison will be a small wireless
operator in a tough market, HSBC said. The research house is pessimistic on the outlook
for Hong Kong's mobile market. (KL)
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00215 HUTCHTEL HK
Nominal 
1.020 -0.010 (-0.971%) Others
22/01/2018 17:57
[I-bank focus]HSBC tweaks for HutchTel HK (00215) to HK$3.66
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