Hutchison Telecommunications International Limited (NYSE:HTX) – Trading in common stock and ADR suspended.
On 04 January 2009, trading in Hutchison Telecommunications International Limited's (HTIL) common stock was suspended on the HKSE and NYSE, following the company's request pursuant to expectation of the imminent release of a material announcement under the Hong Kong takeover codes. Going forward, as we continue to anticipate dampening of ARPU growth and declining Sri- Lankan subscriber-base we maintain our HOLD rating for the common stock. We will reassess our common stock rating and target price in our next update report. In light of our suppressed outlook for the common stock and current price levels we maintain our HOLD rating for the ADR. The Hong Kong dollar is pegged to the US dollar. We will reassess the ADR (1 ADR = 15 common shares) rating for HTIL in our next update report.
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Categories: Asia, Business, Equities, Telecommunications Services 2332.HK, Business, Equity Research, Finance, Hutchison Telecommunications International Limited, NYSE:HTX, Research Oracle
