Investment ThesisValue of huge cash proceeds to be unlocked. Hutchison Telecom (HT) has a net cash of c.HK$5bn+ from fixed-line asset sales in 2017. The value could be unlocked with further special dividends in the future. Expect mobile ARPU to improve by 6%/4%/4% in FY21-23. Expect 5G penetration rates to reach 25%/40%/60% in FY21-23 to […]

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