City Telecom (Hong Kong)
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City Telecom (H.K.) Limited (CTI, Traditional Chinese: 城市電訊(香港)有限公司; pinyin: chéngshì diàn xìn) SEHK: 1137 NASDAQ: CTELis a telecommunication enterprise in Hong Kong. CTI has been listed on the Hong Kong Stock Exchange since August 1997, with an American Depositary Receipt listing on NASDAQ since November 1999.
CTI provides international telecommunications and, through its wholly owned subsidiary HKBN, international telecommunications, Internet access, pay-TV and other fixed telecommunications network services in Hong Kong.
[edit] History
Prior to the Asian financial crisis of 1997, CTI was a major provider of IDD services in Hong Kong. It was involved in the race to capture the HK IDD market by lowering IDD rates to absurd levels. Also, to entice customers it offered a lifetime free dial-up internet service. This service was slow and prone to disconnect arbitrarily. After purchasing HKBN and its IPO, the old management reneged on this promise by selling its entire customer base to HKBN, which was forced to impose a charge.
[edit] See also
- Hong Kong Broadband Network Limited
- List of Hong Kong companies
- Companies listed on the Hong Kong Stock Exchange
