CCT acquires Philippine firm

Updated 2018-01-24 13:23:02

China Communication Technology Co (CCT) has completed its acquisition of a telecommunications carrier in the Philippines, marking the first step in the Chinese company's global push, according to media reports on Tuesday.

CCT, which produces and distributes electronic components, closed the deal to acquire G. Telecoms Inc, a major telecom carrier in the Philippines, in "recent days," the Shenzhen Special Zone Daily newspaper reported.

The report did not include the value of the deal, which it said would lift the Shenzhen-based company to a much larger global market.

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