Wise financial APP news, Citic Telecom (01883) announced that on September 30, 2024, Macau Telecom and the Macao government entered into a supplemental contract to extend the term of the franchise contract by one year, from October 1, 2024 to September 30, 2025. The supplementary contract also stipulates that the specified assets and investments under the franchise contract will become properties of the Macau government upon the expiration of the franchise period. During the extension period, Macau Telecom and the Macao government will continue negotiations on arrangements after the expiry of the extension period.

After fully considering various factors related to the current and future development needs of Macau Telecom, the company believes that entering into a supplemental contract to extend the term of the franchise contract will be beneficial in better leveraging Macau Telecom's support role in the company's development and its service function to Macau society.