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BRIEF-CITIC announces lapse of CITIC Telecom's acquisition of equity interest in CITIC networks
July 5, 2017 / 12:53 PM / 3 months ago

BRIEF-CITIC announces lapse of CITIC Telecom's acquisition of equity interest in CITIC networks

July 5 (Reuters) - Citic Ltd

* Refers to announcement of CITIC & CITIC Telecom International dated 24 August 2015 in relation to CITIC Telecom’s proposed acquisition of equity interest in CITIC networks

* As conditions precedent to acquisition have not been fulfilled, acquisition arrangement & share subscription agreement lapsed

* With lapse of deal, CITIC Telecom Group will review its collaboration with CITIC Network including provision of financial support

* Lapse of acquisition and share subscription does not have any material adverse impact to CITIC Telecom Group and CITIC Limited as a whole Source text for Eikon: Further company coverage:

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