HK-listed TCL Electronics hits 4-month high, ups stake in internet TV unit

TCL Electronics Holdings

24/01/2019 06:06

** Shares of TCL Electronics Holdings Ltd  1070.HK  climb as
much as 2.9 pct to HK$3.84, their highest since Sept 20, 2018
    ** Stock rises after the Chinese TV maker raises stake in
internet television platform operating unit
    ** Co to buy 15.56 pct of Shenzhen Falcon Network Technology
Co Ltd for 420.12 mln yuan ($61.9 mln), raising its stake in the
unit to 60 pct from 44.44 pct  urn:newsml:reuters.com:*:nFWN1ZN0KZ
    ** Co says the deal will allow it to further tap family
entertainment sector, while higher profitability of the unit's
internet business will also boost the company's profit
    ** TCL Electronics has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 20.5 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.1 pct, and the benchmark index  .HSI  climbs 0.3 pct


    ($1 = 6.7851 Chinese yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)