Reported about 15 hours ago
US-based I Squared Capital has withdrawn its plans to acquire Hong Kong's HKBN as a competing bid from China Mobile gains momentum. I Squared, which already owns HGC Global Communications in Hong Kong, struggled to secure necessary approvals for a formal bid and faced challenges in meeting the price required to outbid China Mobile, which has made an offer of HK$7.8 billion for HKBN.
Source: YAHOO