Hong Kong’s Wharf T&T up for sale

14 Jun 2016

The owners of Hong Kong telco Wharf T&T have put the company up for sale and are now seeking offers from both local and overseas buyers. Firms including KKR, CVC Capital, TPG Capital Management, Tsinghua Unigroup and Anbang Insurance, plus domestic telecoms providers such as HKBN and SmarTone Telecommunications, are said to be among the companies invited to submit bids, a report from Reuters suggests. The telco could be worth more than USD1 billion based on a valuation of around ten or eleven times its EBITDA, which stood at HKD775 million (USD100 million) in 2015. First-round bids are due by the end of this month. Wharf T&T, which provides services predominantly to the business sector in Hong Kong, is currently part of Peter Woo’s Wharf Holdings group.

Hong Kong, WTT (formerly Wharf T&T)