HKBN open to further expansion

22 Apr 2016

Hong Kong Broadband Network (HKBN) says it is still open to further mergers and acquisitions, having recently completed the HKD650 million (USD84 million) buyout of New World Telecom. The South China Morning Post cites HKBN chief executive William Yeung Chu-kwong as saying that the company is ‘open to making another acquisition if the price is right’. He added that the ‘focus is on building a strong foundation for future growth’. HKBN reported a 9% rise in revenues for the six months to 29 February 2016 to HKD1.23 billion, while interim net profit stood at HKD135 million, reversing a HKD47 million loss registered in H1 2014/15.

Hong Kong, Hong Kong Broadband Network (HKBN), New World Telecom (now HKBNES)