PRESS DIGEST - Hong Kong - May 28
HONG KONG, May 28 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
HONG KONG ECONOMIC TIMES
-- Hotpot chain Little Sheep Group has postponed its initial public offering by four days to this coming Monday. Sources said the international tranche had been oversubscribed and the postponement was a move to buy time for the roadshow.
SOUTH CHINA MORNING POST
-- Police embarrassment over confidential files leaked on the Internet grew as more classified documents were found.
THE STANDARD
-- Following the announcement of the mainland's telecom restructuring plan, China Unicom (0762.HK) is reported to be asking 120 billion yuan ($17.3 billion) for its CDMA network -- double China Telecom's (0728.HK) estimated offer price.
WEN WEI PO
-- Investment bank Merrill Lynch said Hong Kong's flagship carrier Cathay Pacific Airways (0293.HK) faced the biggest crisis since the SARS outbreak as fuel prices continue to rise. It said it expects the airline to record a loss in the second half as the fuel cost issue worsens. Cathay's earnings forecast has been revised downward by 36 percent.
TA KUNG PAO
-- Wharf Holdings (0004.HK) said its two development projects in Sichuan had halted operations since the earthquake. The overall impact was not significant and this natural disaster did not affect the group's mainland investment plan.
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