Hong Kong-based business services telco Wharf T&T has announced plans for an expansion this year, including the possibility of launching as an MVNO to improve its portfolio of fixed-mobile convergence products. The telco’s chief executive Vincent Ma has told the South China Morning Post that the company will increase its sales force, complete a rebranding and develop its equipment distribution business in 2017.
In October last year a consortium comprising private equity firms TPG Capital Management and MBK Partners agreed to pay HKD9.5 billion (USD1.22 billion) to acquire Wharf T&T. The telco posted record revenue of HKD2.04 billion in 2016, up 2.5% year-on-year, while EBITDA climbed 8% to HKD834 million. Ma said: ‘We aim to grow even faster than before. Our new investors have helped us formulate our plans for 2017.’ Wharf T&T claims some 53,000 corporate customers in Hong Kong, making it the territory’s largest business-focused telco.