JPMorgan raises stake in ZTE

Dec. 27, 2010 | China Knowledge
U.S.-based financial holding company JPMorgan Chase & Co recently increased its shareholding in ZTE Corp<000063><0763>, the second-largest telecom equipment provider in China, to 12.14% from the previous 11.87%.
According to statistics released by the Hong Kong Stock Exchange on Dec. 24, the U.S. firm bought 1.43 million H shares of ZTE for HK$43.32 million. The average price of the share transaction was HK$30.30 apiece.
ZTE recently announced plans to launch its first Android smartphone, Libero in the Japanese market, with Japan’s third-largest mobile phone operator SoftBank this month.
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