Mobile Driving Accelerating China Unicom Growth in 1Q; FVE Raised to HKD 11.40
China Unicom reported accelerating momentum in first-quarter 2018 in line with the recovery seen throughout 2017. First-quarter services revenue was up 8.4% and EBITDA up by 14%, compared with 4.6% and 3.3% growth, respectively, in 2017. Our 2018 forecasts assume 11.4% EBITDA growth but we would expect some slowing in second-half 2018 as the company cycles a stronger second-half 2017 base.We nudge up our fair value estimate to HKD 11.40 and USD 14.50 from HKD 11.20 per share and USD 14.30 per A...
China Unicom (Hong Kong) is an investment holding company. Through its subsidiaries, Co. is a telecommunications operator in China. Co. is engaged in providing mobile voice, fixed-line voice, fixed-line broadband, data communications and other telecommunications services to its customers.Co. is engaged in the provision of cellular and fixed-line voice and related value-added services, broadband and other Internet-related services, information communications technology services, and business and data communications services. The GSM cellular voice, WCDMA cellular voice, TD-LTE cellular voice, LTE FDD cellular voice and related value-added services are referred to as the .mobile business.
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