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
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
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 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