China Tower (HK:0788) has released an update.
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China Tower Corporation Limited has entered into framework agreements with CUC and CTC to lease transmission and cloud resources from August 2024 to December 2026. These agreements are classified as ‘continuing connected transactions’ due to the substantial shareholding of both CUC and CTC in the company. The Board has deemed these transactions to be in the ordinary course of business, fair, and in the shareholders’ interest, requiring only reporting and annual review without needing independent shareholder approval.
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