Citic may become CTM’s biggest investor

Citic Telecom International Holdings Ltd is also in talks with Portugal Telecom to buy its 28-percent stake in CTM, Lisbon’s Diário Económico reported on Friday. The company said last month it was planning to acquire the stake of CTM’s major shareholder, London-listed Cable and Wireless Communications Plc. Cable and Wireless Communications owns 51-percent of the telecommunications company. If the deals with Portugal Telecom and Cable and Wireless go through, Citic Telecom will own 99 percent of CTM, Macau’s biggest telecommunications company, according to our sister publication Business Daily. In the meantime, CTM announced it is planning to study the introduction of a fourth-generation mobile network in Macau.