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HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED

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We cannot set a date to end Huawei involvement yet - Dowden

03/10/2020 | 10:05am EDT

Britain's digital minister Oliver Dowden said on Tuesday the government was not in a position to set out a specific date to strip out "high-risk" vendors, such as China's Huawei, from its future 5G network but would give lawmakers a say over new laws.

Dowden was trying to ease concerns among a group of Conservative lawmakers, who have threatened to rebel against the government over Prime Minister Boris Johnson's decision to allow Huawei a role in building the country's 5G network, unless ministers commit to an end date.

"We're not in a position today to set out a specific date or timetable for reaching no high-risk vendors, that would require a new decision to be taken by the National Security Council," he told parliament.

He said the government would work with other "five eyes" intelligence partners to develop new supply chain capacity during the course of the parliament, which is due to end in 2024, and would allow lawmakers to air their concerns before new legislation was introduced on telecommunications security.

(Reporting by Kylie MacLellan, writing by Elizabeth Piper, Editing by Paul Sandle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
BT GROUP PLC -0.10% 154.7 Delayed Quote.17.09%
ERICSSON 0.36% 100.34 Delayed Quote.2.40%
HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED 1.67% 1.22 End-of-day quote.5.17%
NOKIA OYJ 0.54% 4.813 Delayed Quote.51.92%
TELEFÓNICA, S.A. 0.13% 4.1405 Delayed Quote.27.43%
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Financials
Sales 2021 5 110 M 657 M 657 M
Net income 2021 226 M 29,1 M 29,1 M
Net cash 2021 4 012 M 515 M 515 M
P/E ratio 2021 27,9x
Yield 2021 22,3%
Capitalization 5 879 M 755 M 755 M
EV / Sales 2021 0,37x
EV / Sales 2022 0,41x
Nbr of Employees 991
Free-Float 25,3%
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Hutchison Telecommunications Hong Kong Holdings Limited Technical Analysis Chart | 215 | KYG4672G1064 | MarketScreener
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Number of Analysts 6
Last Close Price 1,22 HKD
Average target price 1,63 HKD
Spread / Average Target 33,6%
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Managers and Directors
Sing Fai Koo Chief Executive Officer & Executive Director
Wai Sin Cheng Chief Financial Officer
Kin Ning Fok Chairman
Yiu Man Chung Chief Technology Officer
Yuen Chun Tan Chief Operating Officer