It is hard to imagine why shareholders would cheer when a company overpays for an asset. On Tuesday, Hong Kong and China-listed communications equipment maker ZTE said it had earmarked up to $160m for a share buy-back. The (China-listed) A shares opened 10 per cent higher — the maximum upside limit — while the (Hong Kong-listed) H shares opened 31 per cent higher.
當(dāng)一家公司為某項資產(chǎn)支付過高的價錢時，很難想象股東怎么會感到高興。周二，在香港和內(nèi)地兩地上市的通信設(shè)備制造商中興通訊(ZTE)表示，已劃撥至多1.6億美元進行股票回購。（在內(nèi)地上市的）A股開盤上漲10%，達到單日漲幅上限；在（香港上市的）H股開盤上漲了31%。
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