Arab Today, arab today citic telecom raises ctm stake to 99
Last Updated : GMT 18:11:59
Arab Today, arab today
Arab Today, arab today

CITIC Telecom raises CTM stake to 99%

Arab Today, arab today

Arab Today, arab today CITIC Telecom raises CTM stake to 99%

Macao - XINHUA

CITIC Telecom International Holdings, controlled by China\'s biggest state-owned investment company, will buy 79 percent of Companhia de Telecomunicacoes de Macau (CTM) for 1.16 billion U.S. dollars to raise its total stake in the local phone operator to 99 percent, CTM said in a statement quoted by The Macao Post Daily on Monday. CITIC Telecom will purchase 51 percent of CTM from Cable & Wireless Communications (CWC) for 749.7 million U.S. dollars. And it will buy a 28 percent stake from Portugal Telecom (PT) for 411.6 million U.S. dollars, according to the statement. The purchases increase its holding from 20 percent to 99 percent. CTM said it expected the transactions to be completed within six to nine months. Macao\'s Post Office, which is fully owned by the local government, owns the remaining 1 percent of CTM. CTM has the right to provide local and international switched fixed voice and data services in Macao until Dec. 31, 2016, renewable for another five-year period, according to the statement. As of Nov. 30, its unaudited net asset value was about 1.7 billion patacas (215.5 million U.S. dollars). CTM was established in 1981, with CWC as its main founding shareholder.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citic telecom raises ctm stake to 99 Arab Today, arab today citic telecom raises ctm stake to 99

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citic telecom raises ctm stake to 99 Arab Today, arab today citic telecom raises ctm stake to 99

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday