|By ACN Newswire||
|January 13, 2013 07:52 AM EST||
Hong Kong, Jan 13, 2013 - (ACN Newswire) - CITIC Telecom International Holdings Limited ("CITIC Telecom" or the "Group;" stock code: 1883), a leading international telecoms services provider in Asia, announced that it has signed sale and purchase agreements with Sable Holding Limited (a wholly-owned subsidiary of Cable & Wireless Communications Plc ("Cable & Wireless") and Portugal Telecom, SGPS, S.A., PT Participaes SGPS, S.A. and PT Comunicaes, S.A. ("Portugal Telecom") respectively to acquire their entire interests in Companhia de Telecomunicacoes de Macau, S.A.R.L. ("CTM"). The acquisitions account for 79% of the interests in total, at a total cash consideration of US$1,161.3 million (approximately HK$9,000.1 million).
Upon completion of the acquisitions, CITIC Telecom's shareholding in CTM increases from 20% to 99%, and CTM would become a subsidiary of CITIC Telecom. The acquisition requires the approval of the Macau Government and relevant PRC governmental and regulatory authorities. The Group expects to complete the transaction in the second half of 2013. Macau Post, an entity controlled by the Macau Government, continues to hold the remaining 1% equity in CTM.
CTM is principally engaged in mobile, fixed line and broadband services in Macau and is a major supplier of enterprise telecom services to corporate customers in Macau. According to the two signed agreements, Cable & Wireless is to sell its 51% interest in CTM to CITIC Telecom at a consideration of US$749.7 million (approximately HK$5,810.2 million), while Portugal Telecom is to sell its 28% interest in CTM to CITIC Telecom at a consideration of US$411.6 million (approximately HK$3,189.9 million). The amount was determined after arm's length negotiations among the parties with reference to CTM's historical financial performance.
At the same time, CITIC Telecom entered into a three-year strategic alliance agreement with Portugal Telecom in which both parties will capitalize their respective expertises in certain areas of collaboration in the telecom sector and jointly identify investment opportunities in information and communication technology ("ICT").
Mr Xin Yue Jiang, Chairman of CITIC Telecom, said, "The Group has been placing great emphasis on Macau as a strategic market. The increase in CITIC Telecom's stake in CTM facilitates our long term business expansion, generates solid synergies with our business integration and enables us to realise higher business growth. The acquisitions should also prove beneficial to the development of the community in Macau. We are also very pleased to maintain good relationships with both Cable & Wireless and Portugal Telecom to create higher value for our shareholders."
CITIC Telecom expects to fund the acquisitions with its existing cash resources and new bank loan facilities. The Group has obtained commitments on a certain funds basis for short and long-term loan facilities from a group of banks to cover all of its funding requirements in relation to the acquisitions. CITIC Telecom may consider refinancing part or all of such facilities at a later date through a combination of equity issuance (including via a rights issue) and/ or bond issuance.
Benefits of Increasing the Group's Stake in CTM
CTM is Macau's leading integrated telecom services provider. It currently holds the rights until the end of 2021 to provide local and international switched fixed voice and data services granted by the Macau Government. CTM also operates other licenses from the Macau Government to provide mobile services in Macau.
The increased stake in CTM is in line with the Group's long term business strategy, enabling the Group to expand its telecommunication businesses in Greater China and facilitate the diversification of its customer base and services profile from a wholesale-dominated provider to a more end-user focused services provider.
To improve CTM's performance, CITIC Telecom will increase its investment in CTM to strengthen its infrastructure and building of support system. Leveraging its experience, the Group will also introduce innovative technologies in order to upgrade CTM's overall technological standard. The Group will also further integrate business operations in order to enhance CTM's international network coverage and innovation capabilities so to fully realise synergies. This direction is intended to build a more solid financial and operational profile, enhance the scale of the Group's business and create a more balanced revenue mix.
At the same time, while promoting sustainable healthy development of telecom services in Macau, CITIC Telecom is determined to play a more significant role in advancing the development of the Macau community. The Group plans to assist CTM to expand cloud computing applications, implements network convergence and advanced international telecom services as well as develop a 4G network, with the aim to transform Macau into a leading integrated digital city in the region.
Mr Xin Yue Jiang concluded, "CITIC Telecom has full confidence in the prospects of both Macau and the telecom industry in Macau. With the strong support from the CITIC Group, as we become the largest shareholder of CTM, the Group will actively complement the Macau SAR Government to enhance the technological standard of Macau's telecom industry, thus providing quality telecom services to Macau citizens and contributing to the new digitalised IT era of Macau."
About CITIC Telecom International Holdings Limited
CITIC Telecom is one of Asia's leading telecoms service providers specialising in hub-based services. In addition to serving its key markets in China and Hong Kong, the Group is actively expanding its business to international telecoms operators. The Group has four main types of business, namely Voice Services, SMS Services, Mobile VAS and Data Services. Its independent hub connects over 621 telecoms operators in 75 countries or regions. Additional news and information about the company is available at www.citictel.com
Source: CITIC Telecom International Holdings Limited
trategic Financial Relations Limited Veron Ng +852 2864 4831 [email protected] Keris Leung +852 2864 4863 [email protected] Agnes Luo +852 2864 4851 [email protected]
Copyright 2013 ACN Newswire. All rights reserved.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
Nov. 30, 2015 01:45 PM EST Reads: 431
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, demonstrated examples of com...
Nov. 30, 2015 01:45 PM EST Reads: 426
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment process from development to production scenarios using Docker containers.
Nov. 30, 2015 01:12 PM EST
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 30, 2015 01:00 PM EST Reads: 536
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 30, 2015 12:45 PM EST Reads: 342
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them to design hosted applications.
Nov. 30, 2015 11:45 AM EST
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Nov. 30, 2015 10:45 AM EST Reads: 462
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
Nov. 30, 2015 10:30 AM EST Reads: 353
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
Nov. 30, 2015 10:00 AM EST Reads: 290
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Nov. 30, 2015 09:00 AM EST Reads: 506
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Nov. 30, 2015 08:00 AM EST Reads: 565
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
Nov. 30, 2015 07:00 AM EST Reads: 468
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 30, 2015 07:00 AM EST Reads: 382
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Nov. 30, 2015 06:00 AM EST Reads: 388
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Nov. 30, 2015 05:30 AM EST Reads: 494
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Nov. 30, 2015 04:00 AM EST Reads: 608
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNub’s Data Stream Network.
Nov. 30, 2015 04:00 AM EST Reads: 350
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user experience, both offline and online. The focus of this talk was on IBM Cloudant, Apache CouchDB, and ...
Nov. 30, 2015 03:45 AM EST Reads: 440
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 30, 2015 02:00 AM EST Reads: 451
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...
Nov. 30, 2015 02:00 AM EST Reads: 449