China Telecom shares fall amid probe into boss

Shares in China Telecom dropped as much as 3 percent Monday after news its chairman was under investigation.

Chang Xiaobing becomes the latest high-profile target in a corruption crackdown.

The Central Commission for Discipline Inspection, the watchdog of the ruling Communist Party, is looking nito Chang for "severe disciplinary violations."

Since President Xi Jinping took office in 2013, the government has conducted an investigation into allegedly crooked officials.

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