China Mobile explores acquiring Hong Kong telecom firm HKBN – Reuters News Agency
Read Time:34 Second
Business & FinanceDeals
18 April 2023, 4:29 pm 1 minute
Reuters exclusively reported that state-owned China Mobile Ltd (0941.HK) is exploring a buyout of Hong Kong’s leading telecoms company HKBN Ltd (1310.HK), which could spark a bidding war for the firm currently valued at $1 billion.
Market Impact
HKBN shares jumped more than 17% after the Reuters report and closed at HK$6.57 a piece Tuesday, valuing the company at HK$8.6 billion ($1.1 billion).
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceTelecommunications
Regions: Asia
Countries: ChinaHong Kong
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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