Citic completes CTM stake acquisition

Friday 21 June 2013 | 03:50 CET | News
Hong-Kong based telecommunication service provider Citic Telecom International has completed the acquisition of a 79 percent stake in Macau operator Companhia de Telecomunicacoes de Macau (CTM). Citic paid a total cash consideration of USD 806.8 million for Cable & Wireless Communications' stake and a total of USD 443 million to Portugal Telecom for its stake, which includes some adjustments. Citic already owned 20 percent of CTM and the holding has now grown to 99 percent. Citic Telecom also announced the new board of CTM. Citic has decided to keep the current executive committee of the

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Categories: General
Companies: Cable & Wireless Communications / Citic Telecom / CTM / Portugal Telecom
Countries: Macau
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