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2018 12-17

Grandall Advised CICT in its Acquisition

On 13 December 2018, China Information Communication Technologies Group Corporation (CICT) received the approval rendered by the CSRC on exempting its obligations under the acquisition of Fiberhome Technologies (600498), Datang Telecom (600198) and Accelink Technologies (002281).

As established in Optical Valley, Wuhan, in August 2018, CICT, a central-administrated enterprise, is dedicated to become the top-tier Hi-tech enterprises in information telecom industry.

The project concerned acquisition of six listed companies (indirect acquisition of Fiberhome Technologies (600498), Datang Telecom (600198) and Accelink Technologies (002281), and indirectly holding of Yangtze Communications (600345), Wuhan Wutos Co., Ltd. (300557), and Gohigh Shares (000851) ) and change of equities.  CICT, as the acquiring party, is obliged to carry out the acquisition and disclose information as required.

Grandall Wuhan Office has been retained as the legal advisor in CICT’s acquisition with Mr. XIA Shaolin, Ms. LIU Wanling, Ms. SONG Lijun and Mr. HU Yun providing professional legal service for the case.

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