• Sun
  • Dec 28, 2014
  • Updated: 9:11am

Citic Telecom International

Citic Pacific posts 9.1pc rise in profit

Citic Pacific chairman Chang Zhenming at the briefing to announce the firm's profit, which reached HK$7.59 billion last year. Photo: Nora Tam

Citic Pacific, the steel-to-property conglomerate of Beijing-backed Citic Group, may book impairment losses on its much-delayed and over-budgeted Australian iron ore project in the coming years after the project's losses widened.

Friday, 21 February, 2014, 6:37pm

Lenders give Citic full backing for Macau buy

More people are expected to visit Macau this year.

Citic Telecom International, a subsidiary of Hong Kong conglomerate Citic Pacific, has secured bank loans to buy 79 per cent of Companhia de Telecomunicacoes de Macau (CTM).

Chief financial officer David Chan said eight banks would together loan US$1.16 billion to Citic Telecom to cover the purchase price.

17 Jan 2013 - 4:19am

Citic Telecom shares rally on Macau stake deal

Citic Telecom dials up a winner with Macau deal. Photo: Bloomberg

Shares of Citic Telecom International jumped 12.9 per cent yesterday following news it will buy 79 per cent of Macau's main telecommunications operator for US$1.16 billion.

The benchmark Hang Seng Index rose 0.64 per cent.

15 Jan 2013 - 4:01am

Citic takes control of CTM for US$1.16b

Citic Telecom International is acquiring a controlling stake in Macau's leading telecommunications operator, Companhia de Telecomunicacoes de Macau (CTM), for US$1.16 billion.

14 Jan 2013 - 3:01am