CTM’s concession sees another year of extention

The government has extended its public telecommunications service concession with Companhia de Telecomunicações de Macau S.A.R.L. (CTM) for another year, from Oct. 1, 2024, to Sept. 30, 2025. The announcement was made in a filing by CTM’s parent company, CITIC Telecom International Holdings Limited, to the Hong Kong stock exchange. The extension aims to support CTM’s development and service to Macau society. Since 1999, CTM has held exclusive rights to operate telecommunications systems in Macau. Although CTM’s monopoly ended in 2011, it still manages local telecom assets under this concession, which was initially set to conclude in 2021.