China Tower posts record jump on service deals with telecom shareholders

China Tower

14/12/2022 03:27

** Shares of China Tower Corp  0788.HK  jump as much as
20.7% to HK$0.99, their biggest daily pct rise since debut in
August 2018
    ** Stock hit the highest since Aug 30; biggest gainer in
Hang Seng Composite Index  .HSCI  and in Hang Seng Composite
Index on telecommunication stocks  .HSCIT 
    ** Beijing-based telecommunications tower infrastructure
service provider says it has entered into 2022 service framework
agreements with its telecom shareholders China Mobile  0941.HK ,
China Unicom  0762.HK  and China Telecom  0728.HK   
    ** China Tower will provide services, including tower
products, indoor distributed antenna system and transmission
products, to the telecom shareholders for a term of five years
on expiry of the 2018 service agreements at end-December 2022
    ** Shares of China Mobile  0941.HK  edges up 0.1%, while
China Unicom  0762.HK  eases 0.9% and China Telecom  0728.HK 
slips 0.6% 
    ** The Hang Seng Composite Index on telecommunication stocks
 .HSCIT  rises 1.1%
    ** As of last close, China Tower's stock had slid 4.7% this
year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))