Already in talks with Chinese vendor ZTE for its 51% share of the company, FT is expected to pay around EUR300 million (USD) in total for the operator, a reflection of its level of debt, rather than its value.
Reuters reports that, Elie Girard, FT’s executive director said that this is an ‘important step, but not the final step of the process of the withdrawal of the state from CCT and the acquisition’.
The move is part of a broader strategy from FT to increase its presence in emerging markets to offset increasing competition and declining revenues in Europe.
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