China Mobile Hong Kong has acquired a controlling interest in Hong Kong Broadband for approximately HKD 5.9 billion to strengthen its market presence and enhance service offerings in the telecommunications sector.
Target Information
China Mobile Hong Kong Limited (referred to as 'China Mobile Hong Kong') has successfully completed its acquisition of Hong Kong Broadband Network Limited (referred to as 'Hong Kong Broadband', stock code: 1310.HK). The deal resulted in China Mobile Hong Kong obtaining 78.08% of Hong Kong Broadband's shares, with a transaction value of approximately HKD 5.9 billion. This acquisition marks a significant move for China Mobile in strengthening and enhancing its competitive position and influence in the Hong Kong market.
Hong Kong Broadband is the second-largest fixed-line operator in Hong Kong and offers a wide range of services including broadband, mobile communication, data centers, and enterprise solutions. Its extensive customer base and strong network infrastructure position it as a key player in the local telecommunications market.
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Industry Overview
The telecommunications industry in Hong Kong is characterized by its high degree of marketization and internationalization, with several well-established operators competing for market share. A
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Disclosed details
Transaction Size: $755M