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Citigroup downgraded Chunghwa Telecom Co Ltd (NYSE: CHT) to Sell

Tuesday,  Mar 24, 2009  8:25 AM ET by Lynn Gilbert

Citigroup downgraded Chunghwa Telecom Co Ltd (NYSE: CHT) to Sell. Previously, Citigroup rated Chunghwa Telecom Co Ltd
(NYSE: CHT) to Hold on 04/30/2008, when the stock price was valued at $25.40. Since then, Chunghwa Telecom Co Ltd's stock price has lost 25% as of 03/24/2009's recent price of $19.00.

Chunghwa Telecom Co., Ltd. (Chunghwa) is a telecommunications service provider in Taiwan. As an integrated telecommunications service provider, its principal services include fixed-line services, including local, domestic long distance and international long-distance telephone services; cellular services, and Internet and data services, including HiNet, its Internet service provider, Fiber to the X (FTTx) services, asymmetrical digital subscriber line (ADSL) services and leased-line services.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.

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