Commonwealth Bank of Australia cuts stake in China Telecom
Commonwealth Bank of Australia, the second largest bank in Australia, has cut its shareholding in China Telecom<728>
HKEx Friday said in a statement that the Australian lender has sold 47.50 million H-shares in China Telecom for HK$141million. The average price of the share transaction was HK$2.964 apiece.
Reportedly, China Telecom, which acquired the CDMA business from China Unicom<600050><762>
H-shares of China Telecom plunged 6.67% to close at HK$2.80 on Friday.
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