(SinoCast via NewsEdge) JP Morgan Chase has become the third largest shareholder of Hong Kong-listed China Telecom after pouring in an additional investment of 134.9 million yen ($17.1 million) in the carrier.
Documents from the Hong Kong Stock Exchange showed that JP Morgan's holding in China Telecom was increased to 7.21% after the investment addition, from the previous 6.92%.
Earlier this year, JP Morgan has bought an addition of 36.94 million shares of China Telecom.
The deal made China Telecom the domestic telecom carrier having witnessed most frequent foreign investment addition in recent months.
The National Australia Bank also increased its stake in China Telecom with a combined investment of 1 billion yuan, making it the second-largest shareholder of the leading Chinese operator with a stake of 8.23%.
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