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China Mobile explores acquiring Hong Kong telecom firm HKBN  - Stock Market Latest

Business & FinanceDeals

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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