Shares of telecommunications companies rose.
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Jefferies said that amid an escalating price war in China's telecommunication market, heavyweight China Mobile is liable to get hit hardest. Smaller rival China Telecom has offered even-cheaper plans after China Mobile launched seven price-cut initiatives in early May. "The price war has just started," the investment bank says, noting China Mobile's price-cut initiatives are less competitive than peers.
-By Amy Pessetto, firstname.lastname@example.org
(END) Dow Jones Newswires
June 09, 2017 18:43 ET (22:43 GMT)