Shares of telecommunications companies rose.
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, email@example.com
(END) Dow Jones Newswires
June 09, 2017 18:43 ET (22:43 GMT)