Boardroom tangle: Hongkong's Hutchison in disarray over strategy

Article Abstract:

Hutchison Whampoa Ltd stocks gained 12% in Hong Kong following reports that the company was off-loading its money-losing ventures. However, subsequent statements from Chmn Li Ka-shing denied the reports and instead reiterated the company's plans to focus on business in Hong Kong and possible operations in China. Although telecommunications services will be continued as a general rule, losing ventures in fringe telecommunications will be shut down. Observers believe the contrary reports to be a result of an internal struggle for power between Li's sons, Victor and Richard.

Hong Kong, Hutchison Whampoa Ltd.

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Ambiguous access: China telecoms play promises more than it can deliver

Article Abstract:

American Ventures in China Group International (Avic) was set up in 1994 with the aim of raising money for China's telecommunications industry. However its connections in China are questionable and its contributions to telecoms projects have been marginal, with reservations expressed by its own auditors. The company's 61% stake in Hebei United Telecommunications Equipment Co is a mere $1.2 million, and other ventures illustrate that the company's role is that of a money raising intermediary.

Telecommunications, Telephone Communication, China, Avico Inc.

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