Cable & Wireless Communications, already in talks with the Bahrain Telecommunications Company (Batelco) about a possible sale of its Monaco & Islands business unit, has confirmed that it is also in talks regarding a potential sale of its business in Macau.
Respondng to recent press speculation, the international mobile communications networks operator confirmed it is in discussions with CITIC Telecom International Holdings Limited regarding a potential sale of its 51% shareholding in Companhia de Telecomunicaes de Macau (CTM). CITIC is a 20% shareholder in CTM.
Macau, along with Hong Kong, is one of two special administrative regions of the People's Republic of China and is sometimes referred to as the "Las Vegas of the East".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Cable & Wireless Communications cut its dividend earlier this year as it struggled against strong headwinds in its Caribbean market. Despite the difficulties the company is experiencing in the Caribbean, it appears that the company is committed to focusing on this part of the world. The sale of its interests in the Monaco & islands and Macau business would provide it with firepower to expand in the Caribbean.
JH
