Citic buys CWC, Portugal Telecom stakes in Macau telco
 

13-01-13 08:52 PM

HONG KONG/LONDON (Reuters) - Citic Telecom is to buy a 79 percent stake in a Macau telecom company from Cable & Wireless Communications and Portugal Telecom for $1.2 billion, giving the Chinese company greater access to fast-growing Macau. Macau, the world's largest casino market, has been performing strongly for CWC mainly due to tourism, but the London-listed company is exiting some non-core ...

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