Owner of Hong Kong’s Citybus, New World First Bus sells 27-year stake in Octopus Holdings amid spiralling coronavirus fifth wave

The new owner of struggling Hong Kong franchised bus firms Citybus and New World First Bus has sold its 27-year stake in contactless payment company Octopus Holdings.Without revealing the proceeds of the sale, Bravo Transport Services said it sold 2.78 million shares in Octopus to the smart card company’s controlling shareholder, railway giant MTR Corporation. Its remaining 600,000 shares in Octopus will be sold to another company.The company said on Monday that the fifth wave of coronavirus…

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