U.S.-based infrastructure investment firm I Squared Capital is finalising the terms of a possible pre-conditional offer for Hong Kong-listed HKBN, the broadband operator said on Thursday.
Sources told Reuters in January that the offer could value HKBN at up to $1 billion.
If the offer materialises, it would rival China Mobile’s HK$5.23 per share offer tabled last December.
According to the same sources, I Squared Capital was not keen on offering more than HK$6 apiece for the telecommunications firm.
Founded in 1999, HKBN provides internet, data centre and WiFi services, among others.
The Hong Kong firm currently holds a market value of HK$7.27 billion ($933.93 million) with a share price of HK$5.21.
($1 = 7.7843 Hong Kong dollars)
Reuters
