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CHINA MOBILE Now Holds 70.7% Stake in HKBN, Said to Have No Plans for Privatization
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Regarding the general offer proposed by China Mobile Hong Kong (CMHK) under CHINA MOBILE (00941.HK), HKBN (01310.HK) announced that CHINA MOBILE had received acceptances representing 40.8% of its shares as of yesterday (3rd), the first deadline. With its shareholding rising to 70.7%, CHINA MOBILE now has control over HKBN. However, sources revealed that CHINA MOBILE has no intention of privatizing HKBN. Instead, CHINA MOBILE will maintain HKBN's listed status and provide support for its financial improvements. AAStocks Financial News |
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