“HONG KONG (MarketWatch) –- China Unicom Hong Kong Ltd. shares dropped in Wednesday trade after a drop in subscriber growth, with its two rivals also moving lower.
China Unicom said Wednesday it added a net 2.726 million 3G subscribers in May, a drop of 6.6% from the 2.918 million it added in April, with analysts attributing the result to weaker consumer spending amid a slowing economy.
Macquarie analysts said they would be watching monthly operating data from China Mobile Ltd. and China Telecom Corp. due out later Wednesday, to see if the slowing 3G growth was an isolated event or part of wider trend.”
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