ZTE to Sell Video Surveillance Subsidiary
Hong Kong Exchanges and Clearing, 12/28/12
Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) has announced that the company's board of directors has approved a series of transactions in which ZTE will sell an 81% interest in its video surveillance equipment subsidiary Shenzhen ZNV Technology to Ocean Delight Investments for a total consideration of RMB 1.26 bln.
Upon completion of the disposal, ZTE will retain an indirect 9% equity interest in Shenzhen ZNV Technology through ZTE Hong Kong. Shenzhen ZNV Technology will cease to be a subsidiary of ZTE.
Keywords: M&A ZNV Technology Ocean Delight telecom video surveillance 000063.SZ 0763.HK telecom equipment ZTE
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