China Communications Construction Seeks Three-Year Extension to Resolve Non-Compete Commitments
China Communications Construction (CCCC) (HKG:1800) is seeking a three-year extension to resolve non-compete commitments involving subsidiary CCCC Design & Consulting Group (SHA:600720), according to a Wednesday filing by the unit with the Shanghai bourse.China Communications Construction initially pledged to inject design companies, including China Highway Engineering Consulting and five waterway design companies, into CCCC Design & Consulting, but CCCC is looking to delay the asset injections due to asset pressures from slower infrastructure investment, the filing said.CCCC Design will take over management of highway and municipal assets through entrusted operation to prevent horizontal competition and business overlapping, the filing said.
