oooaahh,
I thought that the China Telecom float did proceed in October last year, albeit at a much reduced price (than was originally sought). And, did not Li Ka shing pick up 10% of the freefloat after being encouraged (lobbied) to do so by the high command in Shanghai?
On the attributes of the calling card market (generally, and in Shanghai), several of my postings from last year covered this topic in some depth.
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