Velatel Global Comm. (fka VELA)

[Tjeff]

China Motion Telecom International Limited is not a company that Velatel owns they own China Motion Mobile Hong Kong. Since you can read the article maybe you should read the whole thing but here is an excerpt so everyone can read it.

As disclosed in the announcement of the Company dated 29 October 2013, the Balance was settled by Gulfstream and the MVNO Vendors agreed to release the entire issued share capital of CMTHK to Gulfstream. Gulfstream and the MVNO Vendors also agreed to discontinue the Arbitration Proceedings, and Gulfstream, the MVNO Guarantor, the MVNO Vendors and the Company mutually released each other from any claims arising out of the Arbitration Proceedings and the transactions contemplated under the MVNO Disposal Agreement. The Balance has been applied for the payment of the Acquisition Consideration on Acquisition Completion. As the Balance has been settled by Gulfstream, the Company will not draw down the Facility under the Loan Agreement.

Just a little FYI Gulfstream is a company vela used to by CMTHK