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CCT Said in Talks to Acquire Permira’s Asia Broadcast Satellite

  • Chinese company said among final bidders for Permira business
  • Permira had been seeking $1 billion value for satellite owner
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Photographer: Krisztian Bocsi/Bloomberg
Updated on

China Communication Technology is among final bidders for Asia Broadcast Satellite, the communications operator being sold by European private equity firm Permira, people familiar with the matter said.

CCT, a Shenzhen-based provider of military communication equipment, is in the advanced stages of negotiations with Permira, the people said, asking not to be identified because the discussions are confidential. Permira had been seeking to value the business at about $1 billion, according to one of the people. There are still other bidders interested in Asia Broadcast Satellite, the person said.