0
General

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

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

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

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Citic Telecom executive director steps down

Published 27 May 2019 09:13 CET | Hong Kong
Hong Kong-based Citic Telecom has announced that Luo Ning will cease to serve as an executive director of the company due to ...

Citic secures USD 540 mln loan facility

Published 13 Dec 2013 02:11 CET | Hong Kong
Hong-Kong based telecommunication service provider Citic Telecom International has secured term loan facilities of up to USD 540 ...

Citic expands presence in Singapore, Malaysia

Published 29 Oct 2013 01:43 CET | Malaysia
Citic Telecom International CPC Limited, a wholly-owned subsidiary of Citic Telecom International Holdings, launched an expanded ...

Portugal Telecom cuts dividend for 2013, 2014

Published 14 Aug 2013 14:06 CET | Portugal
Portugal Telecom announced a sharp reduction in its proposed annual dividend for 2013 and 2014 to EUR 0.10 per share. The company ...

Citic 1616's H1 profit jumps on CTM contribution

Published 08 Aug 2013 03:53 CET | Hong Kong
Hong-Kong based telecommunication service provider Citic 1616 saw its first half profits jump 232.5 percent to HKD 794.1 million ...

CWC positive on Q1 results, grows mobile base

Published 25 Jul 2013 10:46 CET | Caribbean
Cable & Wireless Communications said it was on track to meet its full-year outlook, supported by growth in mobile data services ...

CTM upgrades speech recognition system

Published 16 Jul 2013 03:28 CET | Macau
Macau-based communications carrier Companhia de Telecomunicações de Macau (CTM) has introduced a new 181 Automated Speech ...

CTM cuts IPLC tariffs

Published 09 Jul 2013 01:17 CET | Macau
Macau-based communications provider Companhia de Telecomunicações de Macau (CTM) has cut tariffs for international private leased ...

Citic 1616 to raise USD 450 mln through bond issue

Published 27 Feb 2013 02:24 CET | Hong Kong
Hong-Kong based telecommunication service provider Citic 1616 will issue USD 450 million guaranteed bonds to Citic Securities ...

Citic Telecom plans bond issue to fund CTM takeover

Published 18 Feb 2013 10:45 CET | Hong Kong
Citic Telecom announced plans for a USD bond issue, to help pay for its planned acquisition of Macau operator CTM. As part of the ...

Citic to buy 79% stake in CTM for USD 1.16 bln

Published 14 Jan 2013 01:56 CET | Macau
Hong-Kong based telecommunication service provider Citic Telecom has signed two sale and purchase agreements with Cable & ...

Portugal Telecom receives bid for CTM share - report

Published 04 Nov 2012 22:21 CET | Macau
Portugal Telecom is in contact with Hong-Kong based Citic Telecom regarding the sale of its share in CTM - Companhia de ...

Citic could pay up to USD 750 mln for CTM stake

Published 01 Nov 2012 00:42 CET | Macau
Hong-Kong based telecommunication service provider Citic Telecom International Holdings could pay as much as USD 750 million for ...

CWC confirms talks for CTM stake sale to CITIC

Published 17 Oct 2012 10:33 CET | Macau
Cable & Wireless Communications (CWC) has confirmed that it is in talks with CITIC Telecom regarding the potential sale of its 51 ...





Calendar   /   Industry Events

04 May 6G Symposium
05 May Dell Technologies World
06 May Teleste Q1 2021
06 May Gogo Q1 2021
06 May TDC Q1 2021
06 May Ice Group Q1 2021
06 May Freenet Q1 2021
06 May RTL Group Q1 2021
06 May Pexip Q1 2021
06 May Avaya fiscal Q2
06 May Roku Q1 2021
06 May Vonage Q1 2021
06 May Cable One Q1 2021
06 May Motorola Solutions Q1 2021
06 May EchoStar Q1
06 May Globalstar Q1
06 May IAC Q1 2021
06 May Uniti Q1 2021
06 May PCTEL Q1 2021
07 May Cellnex Q1 2021
07 May TDS, US Cellular Q1
07 May Telus International Q1 2021
10 May Boingo Wireless Q1 2021
10 May Ceva Q1 2021
10 May Weibo Q1 2021
10 May 8x8 fiscal Q4 results
10 May NortonLifeLock fiscal Q4, investors day
10 May Synchronoss Q1
11 May Magyar Telekom Q1 2021
11 May Radcom Q1 2021
::: More Calendar Items