Wharf T&T attracts at least seven bidders

8 Sep 2016

The sale of Hong Kong business-focussed telco and ISP Wharf T&T has attracted at least seven bidders, according to press reports, with the firm now valued at up to USD1.2 billion. Reuters cites ‘people familiar with the matter’ as saying that firms in the running to acquire Wharf T&T include local rivals Hong Kong Broadband Network (HKBN) and SmarTone Telecommunications, plus private equity groups KKR & Co and a consortium comprising MBK Partners and TPG Capital. Three more suitors submitted bids last week, Reuters adds, again citing an unnamed source. While HKBN is thought to be the front runner in the race to acquire the ISP, its bid could be derailed by competition regulators. Wharf T&T is currently owned by Hong Kong billionaire Peter Woo’s Wharf Holdings which also controls local cable TV and broadband provider i-Cable.

Hong Kong, Hong Kong Broadband Network (HKBN), SmarTone, WTT (formerly Wharf T&T)