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Portugal Telecom (PT) and U.K.-based Cable & Wireless (CBWYY.PK) agree to sell their...

Portugal Telecom (PT) and U.K.-based Cable & Wireless (CBWYY.PK) agree to sell their combined 79% holding in Cia. de Telecomunicacoes de Macau to China's Citic Telecom for $1.16B. Portugal Telecom will receive $411.6M for its 28% while C&W will receive $749.7M for its 51%. The sale is part of the European telecom companies' strategies to streamline their operations.
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