Kevin Ho reportedly to sign Portugal media deal tomorrow

226

Local businessman Kevin Ho is to ink a deal to acquire Portuguese media conglomerate Global Media Group on Wednesday during the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries, local broadcaster TDM English News reported yesterday.
The news outlet said the deal between the two parties amounts to 17.5 million euros (MOP156.7 million/US$20.1 million).
Global Media owns two major newspapers in Portugal: Diario de Notícias in Lisbon and Jornal de Notícias in Porto.
The broadcaster recently reported that Mr. Ho, CEO of local real-estate investor KNJ Investment Ltd, went to Portugal to negotiate the specifics for purchasing a controlling stake of the Portuguese company.
The local businessman, the nephew of former Chief Executive Edmund Ho Hau Wah, expected at that time that the acquisition would “expand the group’s reach to other sectors”.