Summary by Moomoo AI
Citic Telecom International Holdings Limited ("Citic Telecom") announced on September 30, 2024 that its subsidiary Macau Telecom signed a supplemental contract with the Macau government, extending the franchise contract term by one year until September 30, 2025. The supplemental contract also specifies that designated assets and investments will be transferred to the Macau government at the end of the franchise period. During the extension period, Macau Telecom will negotiate with the Macau government on subsequent arrangements. Citic Telecom stated that this move will benefit the company's future development and will continue to serve the Macau community. The board of directors will continue to monitor the situation and make further announcements in a timely manner in accordance with listing rules.
