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HGC looking at HKBN takeover

2 Mar 2023

Hong Kong fixed broadband provider HKBN is thought to be the subject of a takeover offer from rival firm HGC Global Communications which could see HKBN valued at over USD1 billion. A report from Bloomberg cites people familiar with the matter as saying that HGC, owned by private equity firm I Squared Capital, has already lodged an offer. There was “speculation last May”: that investment companies KKR and PAG were interested in acquiring HKBN, but market volatility led to concerns about its valuation and no deal was finalised.

HKBN’s shareholders include TPG and MBK Partners. It offers a range of fixed voice, broadband and TV services for both residential and business customers, while it also operates as an MVNO.

Hong Kong, HGC Global Communications, Hong Kong Broadband Network (HKBN)

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