Yangtze Optical Fibre and Cable Joint Stock Co (HK:6869) has released an update.
Yangtze Optical Fibre and Cable Joint Stock Limited Company has acquired a 30% equity interest in Baosheng Submarine Cable, consolidating their total ownership to 60% and making it a non-wholly-owned subsidiary. The deal, valued at RMB582,797,700 and funded by internal resources, is considered fair by the Directors and will result in the inclusion of the Target Company’s financial results in the Group’s consolidated statements. Investors are advised to exercise caution due to potential uncertainties in the Target Company’s future operations.
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