LONDON Oct 17 Cable & Wireless Communications
PLC is in advanced talks to sell its controlling stake
in Macau's largest telecoms group, CTM, for as much as $650
million to Citic Telecom International Holdings Ltd,
the Financial Times reported.
British-listed CWC is looking to offload its 51 percent
stake in CTM, Macau's only fixed line provider and leading
mobile phone group, as part of a wider strategy to focus on its
business in the Caribbean, the FT said, citing people with
knowledge of the situation.
CWC is also in talks to sell its assets in Monaco and a host
of island nations including the Maldives and the Seychelles to
Bahrain Telecommunications Co, sources told Reuters
Macau would be attractive for Citic due to the former
Portuguese enclave's fast-growing sales of Apple's
iPhone and demand from tourists attracted to its booming casino
industry, the FT said.
CWC, Citic and CTM were not immediately available for