China Unicom Falls In Hong Kong After Deutsche Downgrade

China Unicom

slipped by more than 3% in Hong Kong trading after Deutsche Bank downgraded the stock to "sell" from "buy," citing weak 3G subscriber growth. “Seven months after we upgraded Unicom in February, we have seen few operational improvements envisaged in our upgrade,” Deutsche Bank said in its note. The downgrade comes ahead of China Unicom's rollout of Apple's

iPhone 4 in China this weekend. The company took nearly 50,000 pre-orders for the iPhone 4 on Sept. 17, the first day it started accepting such orders, according to Dow Jones Newswires. China Unicom is the lone Chinese carrier to offer access to the iPhone on the mainland. Unicom said it added almost 1.7 million new subscribers in August. Learn how to find the best

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