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2009-6-2 11:27:00 a.m. HKT, XFNA
DJ MARKET TALK: Oriental Press +15.9%;Hopes Offer To Be Sweetened
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| 1116 [Dow Jones] Oriental Press (0018.HK) +15.9% at 95 HK cents, exact level major shareholder proposes to take company private; intraday high of 96 HK cents is even higher than buyout bid, suggesting some investors taking view offer price may be raised, which not unrealistic expectation given that PCCW (0008.HK), Crocodile (0122.HK) both sweetened offers in previous privatization attempts, though it's difficult to guess if Oriental Press' major holder would follow suit, thus capping shares' further upside. Volume heavy at HK$17.9 million; stock hasn't traded above psychological HK$1.00 since September; set to remain cap.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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