Schroder cuts stake in China Communications Services to 4.89%

Published: 21 Sep 2009 21:56:28 PST

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Sep. 22, 2009 (China Knowledge) - Schroder Investment Management Ltd, a major mutual fund company, on Sep. 15 reduced its shareholding in China Communications Services Corp Ltd<0552> to 4.89% from the previous 5.04%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from HKEx showed that Schroder last Tuesday sold 3.14 million shares of CCS for HK$14.17 million. The average share price of the transaction was HK$4.51 apiece.

Schroder on Sep. 9 sold 6.41 million shares of CCS for HK$29.6 million at HK$4.63 apiece, according to an earlier report from China Knowledge.

CCS, a subsidiary of China Telecom Corp Ltd<0728><CHA>, reported a net profit attributable to shareholders of RMB 758 million for the first half of this year, up 33% from a year earlier.

Shares of CCS fell 1.32% to end at HK$4.48 yesterday.