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CHINA TELECOM CORPORATION LIMITED

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Washington expels Chinese phone carrier from the US market

10/27/2021 | 03:41am EST

Regulators are expelling a unit of China Telecom from the American market due to a national security threat.

As one of the country’s three major state-owned carriers, China Telecom (Americas) is to stop providing domestic interstate and international service in the United States within 60 days, under an order from the Federal Communications Commission (FCC) approved yesterday.

Amid rising tension with Beijing, the fear is that the Chinese may disrupt American communications and potentially cause a national security risk if messages were heard.

The FCC said China Telecom “demonstrate a lack of candor, trustworthiness and reliability”, however did not give exact details of what this meant.

China Telecom were also one of the Chinese companies that were expelled from U.S. stock exchanges under an order by Former President Donald Trump.

It is expected that Beijing will announce a retaliation against this measure.

The post Washington expels Chinese phone carrier from the US market appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on CHINA TELECOM CORPORATION LIMITED
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Financials
Sales 2021 435 B 68 273 M 68 273 M
Net income 2021 25 984 M 4 076 M 4 076 M
Net Debt 2021 9 763 M 1 531 M 1 531 M
P/E ratio 2021 8,46x
Yield 2021 6,80%
Capitalization 446 B 57 220 M 70 002 M
EV / Sales 2021 1,05x
EV / Sales 2022 0,95x
Nbr of Employees 277 809
Free-Float 25,4%
Chart CHINA TELECOM CORPORATION LIMITED
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China Telecom Corporation Limited Technical Analysis Chart | 728 | CNE1000002V2 | MarketScreener
Technical analysis trends CHINA TELECOM CORPORATION LIMITED
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Mean consensus BUY
Number of Analysts 23
Last Close Price 2,53 CNY
Average target price 3,64 CNY
Spread / Average Target 43,8%
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Managers and Directors
Rui Wen Ke Chairman & Chief Executive Officer
Zheng Mao Li President, COO & Executive Director
Min Zhu CFO, Secretary, Executive Director & Executive VP
Yi Xun Sui Chairman-Supervisory Board
Er Ming Xu Independent Non-Executive Director
Sector and Competitors