Telecom deal
Source: Bloomberg News |
October 18, 2012, Thursday
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Print Edition
Print Edition
CITIC Pacific Ltd yesterday said a unit is in talks to buy Cable & Wireless Communications Plc's stake in a Macau service operator to increase its shareholding.
CITIC Telecom International Holdings Ltd plans to buy Cable & Wireless's 51 percent stake in Companhia de Telecomunicacoes de Macau to boost its holding to 71 percent, CITIC Pacific said in a statement. Cable & Wireless confirmed the talks in a separate statement. The companies didn't provide financial details of the planned transaction. The purchase would be CITIC Pacific's first since 2009, when it bought a 10 percent stake in a Shanghai real estate management company, according to data compiled by Bloomberg News.
CITIC Telecom International Holdings Ltd plans to buy Cable & Wireless's 51 percent stake in Companhia de Telecomunicacoes de Macau to boost its holding to 71 percent, CITIC Pacific said in a statement. Cable & Wireless confirmed the talks in a separate statement. The companies didn't provide financial details of the planned transaction. The purchase would be CITIC Pacific's first since 2009, when it bought a 10 percent stake in a Shanghai real estate management company, according to data compiled by Bloomberg News.
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