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Citic Telecom shares surge after $1.2 billion Macau deal
January 14, 2013 / 1:50 AM / 5 years ago

Citic Telecom shares surge after $1.2 billion Macau deal

HONG KONG (Reuters) - Shares in Citic Telecom (1883.HK) surged 13.4 percent on Monday after it agreed to buy a 79 percent stake in a Macau telecom company from Cable & Wireless Communications CWC.L and Portugal Telecom PTC.LS for $1.2 billion, giving the Chinese company greater access to fast-growing Macau.

Executives chat outside the CITIC Pacific office building in Hong Kong in this October 21, 2008 file photograph. REUTERS/Woody Wu/Files

Reporting by Denny Thomas; Editing by Stephen Coates

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