ZTE sells down Nationz stake

Date:2011-08-25yangliangyu  Text Size:

ZTE said it's sold part of its 13.55 percent stake in Chinese chipmaker Nationz Technologies. ZTE said the stake was not large enough for it to exercise any control over the company, so the shares were sold on the Shenzen market. ZTE expects to book a pretax gain of CNY 141 million from the sale of the shares, after already booking a similar gain of CNY 142 million in the first half. It still holds a 10.40 percent stake in Nationz.

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