Hutchison Telecom Macau sold to rival CTM, Macau media says

Hutchison Telecommunications Hong Kong (0215) has reportedly sold the Macau operation to rival Companhia de Telecomunicações de Macau.

Shareholders of Hutchison Telecom Macau, which provides a wide variety of mobile services under the 3 brand, have been changed to CTM and CTM (HK) Limited, Macao Daily News reported, citing a commercial registration record released by the government. 

All shares have been fully subscribed and paid up in cash, as shown in a release dated February 27, the report said, adding that the two companies under Citic Telecom International (1883) together hold shares with a par value of 10 million patacas (HK$9.73 million) in Hutchison Telecom Macau.