CEC-HK and CPC, both wholly-owned subsidiaries of the CITIC Telecom International Holdings (HKG:1883), signed a new three-year service agreement with CEC, a non-wholly owned subsidiary, and CITIC Group associate, according to a filing on Monday.
The 2024 service agreement, effective from Jan. 1, 2025, to Dec. 31, 2027, engages CEC to provide technical and support services in the PRC to CEC-HK and CPC customers, facilitating value-added telecom services.
If services are required outside the PRC, CEC will exclusively refer customers to CEC-HK or CPC, collaborating on service solutions compliant with applicable laws.
Service fees are based on cost plus a prevailing market rate, leveraging CEC's IP-VPN operating license to access the large domestic VPN services market in China.
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