Wharf T&T sold to equity houses; HKBN misses out

5 Oct 2016

A pair of private equity firms have agreed a HKD9.5 billion (USD1.22 billion) deal to acquire Hong Kong telco Wharf T&T. MBK Partners and TPG Capital Management will each take a 50% stake in Wharf, which claims to be the territory’s second largest provider of business communications services. The consortium beat out rival bids from the likes of local telco Hong Kong Broadband Network (HKBN) and private equity group KKR & Co. Wharf T&T is currently owned by local tycoon Peter Woo’s Wharf Holdings group.

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