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CHINA MOBILE Files Antitrust Documents w/ HK OFCA in Link with Buyout of HKBN: Rumor
CHINA MOBILE (00941.HK) previously offered to buy out HKBN (01310.HK). Lately, the company reportedly submitted antitrust documents to the Office of the Communications Authority (O...
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CHINA MOBILE Files Antitrust Documents w/ HK OFCA in Link with Buyout of HKBN: Rumor
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CHINA MOBILE (00941.HK)  -1.400 (-1.697%)    Short selling $297.21M; Ratio 7.849%   previously offered to buy out HKBN (01310.HK)  0.000 (0.000%)    Short selling $835.90K; Ratio 11.104%   . Lately, the company reportedly submitted antitrust documents to the Office of the Communications Authority (OFCA) between late December and early January 2024, and the matter is moving ahead swimmingly, Sing Tao Daily cited people with the knowledge of the matter as saying.

Last month, CHINA MOBILE had proposed to acquire HKBN at $5.23 per share in cash. People with the knowledge of the matter thought that the offer is justifiable, fully reflecting HKBN's fundamentals, valuation and potential synergies after the completion of the acquisition, and that there is even a premium.

Another rumor disclosed that I Squared Capital, a major shareholder of HGC, had also commenced due diligence on HKBN, and the price per share may reach $5-6. However, it is believed that obtaining antitrust approval will be a challenge.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-24 16:25.)

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