Central China Securities maintains China Unicom at "Overweight"

Mon. October 06, 2008; Posted: 04:40 AM

BEIJING, Oct 06, 2008 (Xinhua via COMTEX) -- CHU | Quote | Chart | News | PowerRating -- Chinese broker Central China Securities has newly maintained its "Overweight" rating on A-share of China Unicom (600050.SH; 0762.HK; CHU.NYSE), showing confidence in the company's WCDMA development.

According to Central China Securities, the successful transaction of China Unicom's CDMA network with China Telecom (0728. HK; CHA.NYSE) signals the establishment of new telecom industry structure in China.

The broker said that the implementation of the industry reshuffle was much more efficient than the market's expectation.

It was confident on the long-term development of China Unicom's WCDMA business, supported by the company's 3G technology, industrial chain, and the country's local number portability (LNP) policy, which allows subscribers of China Mobile (0941.HK; CHL.NYSE) to transfer their numbers to other carriers.

For full details on China Unicom Limited ADS (CHU) click here. China Unicom Limited ADS (CHU) has Short Term PowerRatings of 4. Details on China Unicom Limited ADS (CHU) Short Term PowerRatings is available at This Link.

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