China Unicom (Hong Kong), China’s second-largest mobile carrier, fell the most this year after the Hong Kong-listed company signaled it will miss out on a mixed-ownership plan being pushed by the government for its state-owned enterprises. Bloomberg reports the stock declined 3.9%, the biggest drop since Nov. 11, to close at HK$10.44 on Thursday. Unicom resumed trading after the company said yesterday that its Shanghai-listed affiliate, China United Network Communications, could see its shareholding structure change after the restructuring, without any mention of changes at Hong Kong-listed company. The Shanghai-listed stock was also halted on Wednesday, and was still suspended from trading. Using the Shanghai-based company as a platform for reforms would be more complex than using the Hong Kong company, which may disappoint investors, Joel Ying, an analyst Nomura Holdings, wrote in a note to clients.
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