When China Telecom (Hong Kong) (CTHK) went public in October 1997, it was the largest IPO in Hong Kong. In an unstable economic environment, the catalog CTHK was exceeded by an impressive 30 times and raised almost U.S. $ 4 billion. CTHK list was "sold" to the international community, as China "telecoms performance" and the beginning of the privatization program in China. But foreigners were not allowed to own or operate any kind of social networks in China. So they bought a $ 4 billion investment? As China Telecom was able to sell a minority stake in one of its operating companies, without actually selling any control? "Hide
by Ali F. Farhoomand, Peter Lovelock Source: University of Hong Kong, 18 pages. Publication Date: January 1, 1999. Prod. #: HKU024-PDF-ENG
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