Reported 2 days ago
China Mobile is moving closer to acquiring Hong Kong broadband company HKBN after rival bidder I Squared Capital withdrew from the competition. I Squared, which was also looking to outbid China Mobile's offer of HK$5.23 per share, faced obstacles in securing necessary approvals from the Chinese sovereign wealth fund. As negotiations continue, HKBN remains committed to protecting shareholder interests.
Source: YAHOO