Market Chatter: China Mobile Considering Purchase of Internet Company HKBN

MT Newswires Live11-19

China Mobile (HKG:0941, SHA:600941) is considering the purchase of Hong Kong broadband company HKBN (HKG:1310) to expand the telecommunications company's reach in the city, Bloomberg News reported, citing people familiar with the matter.

The state-backed telecommunications company is holding talks with MBK Partners and TPG for the acquisition, the report said.

China Mobile said it is willing to pay at least HK$5 per share for the broadband firm, the report said.

Other private equity companies are also considering the stake purchase, and the deal is not yet final, Bloomberg said.

China Mobile and HKBN did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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