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CITIC Increases Stake in Chongqing Cable TV

Xinhuanet.com, 11/14/07

CITIC subsidiary CITIC Networks has spent RMB 370 mln on supplying capital to and purchasing shares in Chongqing Cable TV Network. This brings Chongqing Cable's registered capital to RMB 200 mln, up from RMB 85.7 mln. CITIC Networks now holds a 45% stake in the company, with Chongqing Broadcasting TV Industry retaining a 52.39% holding and local government a 2.61% share. By next year the company's network will reach one million households.

Keywords: CITIC CITIC Networks Chongqing Cable TV cable TV M&A

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