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China Travel ponders Internet investment

HONG KONG: Transport group China Travel International Investment Hong Kong Ltd said on Monday it is considering investing in the Internet.

"The company is in negotiation with an independent third party for a possible investment in a tour-related Internet company," the red chip said in a published statement.

China Travel, whose activities span freight forwarding, passenger transport, hotel and golf club operations and infrastructure investment, said it issued the statement after a sharp rise in the trading volume and price of its shares.

China Travel closed up HK$0.48 or 41.38 percent at HK$1.64 on Friday on volume of 283.31 million shares, up from 2.13 million shares the previous day.-Reuters