Huawei considers spinoff for terminals unit
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China's business press carried the following stories on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
Huawei considers spinoff for terminals unit—China Business News
Huawei Technologies, China's leading telecom equipment maker, is considering selling its fast-growing terminals unit, the company's vice president Guo Ping revealed at the 2010 Mobile World Congress in Barcelona over the Spring Festival.
The firm originally planned to spin the unit off in 2008 and list it after selling the stake to investors, but the plan was dropped due to uncertain market conditions caused by the financial crisis.
When asked whether the firm has started preparations for the spinoff again, Guo declined to comment.
The unit has a workforce of more than 6,000 people. It reported US$4 billion in revenue in 2008, and US$5 billion in revenue in 2009. Guo says the expected revenue for the unit in 2010 is US$6 billion, a 20 percent rise year-on-year.
Citic Securities said to buy CLSA Asia Pacific Markets—Securities Daily
There is a running rumor that Citic Securities, China's largest brokerage firm, is considering a deal to buy a minority stake at a high price in CLSA Asia Pacific Markets.
Tan Ning, secretary of the company, declined to comment.
The reported deal partly comes from the securities firm's development strategy, and partly a result of its intention to seek investment for its soaring piles of cash. Citic Securities' strong balance sheet in 2009 will enable it to advance the investment. In 2009, the firm reaped the fruits of the bull market in China.
Citic Securities' most famous overseas investment was its partnership with Bear Stearns in October 2007, although the partnership ended after the investment banking giant collapsed in March 2008.
Coal output expected to reach 3.3 bln tons—Xinhua News Agency
China's coal output is expected to reach 3.3 billion tons in 2010, according to a forecast by China Logistics Information Center.
Coal supply will be short in the first quarter of this year, making the price of coal rise. Prices are expected to drop slightly as demand cools in the second quarter, but will still trend upward throughout the whole year, according to the forecast.
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