Citic moving ahead with CTM takeover via USD1bn loan

11 Jan 2013

Chinese-owned Citic Telecom International Holdings has agreed a syndicated loan of at least USD1 billion backed by seven banks as it prepares to take over Macau’s incumbent telco and multi-play operator Companhia de Telecomunicacoes de Macau (CTM), sources quoted by Thomson Reuters said. In November 2012 CommsUpdate reported that Citic Telecom International was negotiating the purchase of Cable & Wireless Communications’ 51% stake in CTM whilst also talking to Portugal Telecom about a proposal to buy its 28% share in the Macanese telco, which would raise Citic’s stake from 20% to 99%. The initial Cable & Wireless purchasing agreement is reportedly worth around USD645 million.

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share