Reuters: Global Markets: Citic Telecom shares surge after $1.2 billion Macau deal

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Citic Telecom shares surge after $1.2 billion Macau deal Jan 14th 2013, 01:48 HONG KONG | Sun Jan 13, 2013 8:48pm EST HONG KONG (Reuters) - Shares in Citic Telecom (1883.HK) surged 13.4 percent on Monday after it agreed to buy a 79 percent stake in a Macau telecom company from Cable & Wireless Communications (CWC.L) and Portugal Telecom (PTC.LS) for $1.2 billion, giving the Chinese company greater access to fast-growing Macau.

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