Lehman Brothers : Sunday profits from merging trend of telecom

Lehman Brothers said after meeting with management team of SUNDAY Communications (0866) that a merger was under preparation in Hong Kong mobile phone market and four operators were expected to be left at last. The management team of Sunday said the company would not make investment in 3G networks to avoid initial expensive and unstable net equipment.Lehman Brothers expected the EBITDA of Sunday in 2001 to be HK$ 225 mln and numbers of total users to be 522894 in Q1.Lehman Brothers recommended strong buying in Sunday.

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