"China telecom prospects and business are expected to grow tremendously in coming years, so the placement of Star Telecom shares presents an opportunity for the George Soros fund," said Frederick Tsang, head of research at BNP-PrimeEast Securities.

Shares of Star Telecom, one of the 20 biggest net gainers on the exchange on Monday, were up HK$0.275, or 9.02 per cent, at HK$3.325 at late morning on volume of 18.55 million shares."It indicates the value of the company since Soros has carried out a series of due diligence work before committing," said Percy Au-Young, sales director at DBS Securities.

Quantum Emerging Growth Partners C.V. (QEG), a fund advised by Soros Fund Management LLC, bought a 5.75-per cent stake, or 53 million shares, in Star Telecom at HK$2.25 per share from China Strategic Holdings Ltd."Soros immediatelydrew the market's attention to the stock. The stock has outperformed the market although trading has not been very active," Au-Young said.