Brief: CMMB Vision Says Silkwave Holdings Entered Final Terms Of Agreement For JV Co With Saudi Party
12/04/2021 15:00
April 12 (Reuters) - CMMB Vision Holdings Ltd 0471.HK :
* SILKWAVE HOLDINGS LIMITED ENTERED FINAL TERMS OF AGREEMENT
FOR A
JV CO WITH A SAUDI PARTY
* JV CO EXPECTED TO HAVE NO LESS THAN US$100 MILLION FOR
INITIAL
CAPITALIZATION
* JV CO TO DEVELOP & OPERATE L-BAND SATELLITE CONNECTED-CAR
MULTIMEDIA PLATFORM SERVICING MIDDLE EAST AND AFRICA
* SILKWAVE TO CONTRIBUTE IN-KIND CAPITAL WITH ITS SATELLITE
SPECTRUM AND ORBITAL ASSETS, & SAUDI PARTY TO CONTRIBUTE CAPITAL
Source text for Eikon: ID:nHKSbpmBWD
Further company coverage: 0471.HK
((Reuters.Briefs@thomsonreuters.com;))
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