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Industry: Email Alert RSS FeedNew World Mobile Holdings to sell its 23.6 percent stake in mobile joint venture in Telstra
Telecommunications Mergers & Acquisitions, December, 2006 by Anonymous
New World Mobile Holdings would be selling its 23.6 percent stake in a Hong Kong-based mobile-phone joint venture with Australian-based Telstra to New World Development, its parent firm. The Dow Jones report stated that New World Holdings plans to sell the stake for $321 million.
After selling its stake in CSL New World Mobility Group, New World Mobile plans to pay a dividend of $0.16 per share to its shareholders. The report also said that Simon Lo, a non-executive director of New World Mobile, has consented to buy New World Development's 58.04 percent stake in its mobile unit.
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