China Telecom "Management indicates that CDMA network buyback is under progress and is expected to be finished at the end of this year," Jefferies analysts wrote in a May 3 report. "The specific plan may be disclosed in mid-2012 after earnings are released. The price depends on the book value of the network after official evaluation and auditing, and negotiation between listco and Parenco. We are modelling positive impact to earnings from the buyback deal starting from 2013." Shares of China Telecom hit a 52-week low of $49.22 on Wednesday. The stock's 52-week high of $67.97 was set on Sept. 20. China Telecom's forward P/E is 12.53; the average for fixed-line telecommunications companies is 14.1. Three of the five analysts who cover China Telecom rated it buy; two analysts gave the stock a hold rating. The stock has fallen 13.53% year to date. -- Written by Alexandra Zendrian >To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: firstname.lastname@example.org. >To follow the writer on Twitter, go to Alexandra Zendrian.