Two front runners for Wharf T&T stake

28 Sep 2016

The race to acquire the Hong Kong telco Wharf T&T has come down to just two players according to press reports. The South China Morning Post writes that the front runners are now local ISP Hong Kong Broadband Network (HKBN) and a consortium which brings together private equity firms MBK Partners and TPG Capital. At least five other firms are thought to have been interested in acquiring business-focused operator Wharf T&T, which has been valued at around USD1 billion. Three unnamed sources cited by the newspaper say that HKBN has so far submitted the most aggressive offer for Wharf, although its bid could ultimately be derailed by competition regulators as it is already one of the territory’s main internet providers. 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), WTT (formerly Wharf T&T)