Glonghui, May 11 | Morgan Stanley released a research report stating that it maintains PCC's “in sync with the market” rating, and the target price is HK$3.7. According to the report, according to media reports, PCCW is close to agreeing to sell 40% of its shares in the optical fiber business to the state-owned China Merchants Group at a price of 850 million US dollars to 900 million US dollars. The two parties are implementing the details and are expected to be announced within a few weeks. Damo believes that the deal supports the decline in electricity earnings and that the sale is expected to reduce pressure on cash flow. At the same time, it believes that most of the news has been reflected in stock prices, as there have been a series of reports earlier. As for HKT, Damo believes that the stock price reaction is limited because there are no details such as the transaction structure in the details, and the impact on HKT is still unclear.