Macao businessman Kevin Ho has bought 30 percent of Global Media Group of Portugal for €15 million (US$17.4 million), the company says.

Global Media issued a written statement saying it will use said the money Mr Ho is investing mostly “to boost the group’s leadership in digital, and its internationalisation, especially in Portuguese-speaking regions”.

Mr Ho’s company, KNJ Investment, said Portuguese-speaking markets would be “crucial” to Global Media strategy.

KNJ Investment said Mr Ho’s purchase could “help the Macao SAR become known worldwide as a platform between China and Portuguese-speaking countries.”

Mr Ho will become vice-chairman of Global Media, Macao journalist Paulo Rego will become an executive director and Philip Manuel Eusébio Yip will become a non-executive director, KNJ Investment said.