China Cablecom Holdings, Ltd. (CABLF) today announced that it has received offers to acquire company’s Hubei assets. CABLF’s joint venture partner, Hubei Chutian Radio & Television Information Network Company Limited, proposed a buy back China Cablecom’s equity investments in Hubei Chutian Shi Xun Network Company Limited (“Hubei JV”).
Company reported that current negotiations on terms including purchase price and conditions are still pending and subject to further review by the Company’s Board of Directors.
CABLF stock traded over 2.1M shares vs 12K 10day average as of 2 p.m. EST & still gaining momentum into the session’s close.
China Cablecom Holdings Ltd
Suite 4612 Tower 1 Plaza 66
No 1266 Nanjing West Road
China Cablecom is a joint-venture provider of cable television services in the People’s Republic of China , operating in partnership with a local state-owned enterprise (“SOE”) authorized by the PRC government to control the distribution of cable TV services through the deployment of analog and digital cable services. China Cablecom has consummated the acquisition of a 55 percent economic interest in a cable network in Hubei province with paying subscribers exceeding 1,100,000. China Cablecom now operates 28 cable networks with over 1.67 million paying subscribers. China Cablecom’s strategy is to replicate the acquisitions by operating partnership models in other municipalities and provinces in the PRC and then introducing operating efficiencies and increasing service offerings in the networks in which it operates.