CBA raises stake in China Communications Services

Published: 03 Jul 2009 01:21:58 PST

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Jul. 3, 2009 (China Knowledge) - Commonwealth Bank of Australia (CBA), the second largest bank in Australia, has raised its stake in China Communications Services Corp Ltd<0552> to 10.31% from the previous 9.96%, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<0388>.

Information from HKEx showed that the Australian lender on Jun. 26 bought around 7.03 million shares of China Communications Services for HK$33.85 million. The average share price of the transaction was HK$4.814 per share.

In late May, China Communications Services, a subsidiary of China Telecom Corp Ltd<0728><CHA>, said it will spend a total of RMB 115 million to acquire three firms engaged in the businesses of logistics services, technology, system integration and applications, and telecom infrastructure services, according to an earlier report from China Knowledge.