Institutional Investors completed the acquisition of a 5.9% stake in China Telecom from BlackRock for $206m.

Financials

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Transaction Value£151m

Consideration TypeCash

Capital Owned-

Capital Bid For6%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

target

China Telecommunications Corp.

vendor

BLACKROCK

bidder

Institutional Investors

Sources

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Tags

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Minority

telecommunications

China

Private Equity

Cross Border

Friendly

Private

Single Bidder

Mobile

Acquisition

Completed

Synopsis

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Institutional Investors completed the acquisition of a 5.9% stake in China Telecom, a state-owned telecommunication company, from BlackRock for $206m. BlackRock sold 818m shares at the price 12% lower than stock's closing price. After the deal, the asset manager possesses 0.2% stake in the company. The concrete reason for the disposal was not disclosed.