Wellcell's (HKG:2477) former controlling shareholder, WellCell Group, completed the sale of 100 million, or 10%, shares in the company to Hang Feng International at HK$6 apiece, a May 9 Hong Kong bourse filing said.

Following completion, Hang Feng International's shareholding in the firm increased to 299 million, or 29.9%, shares, from 199 million shares previously.

Hang Feng International has become the single largest shareholder of the Chinese telecommunication network support and information and communication technology integrator.

At the same time, WellCell Group's shareholding in Wellcell has fallen from 266 million shares to 166 million shares, representing 16.6% of the latter's issued share capital. WellCell Group remains a substantial shareholder of the company.