KKR & Co and HKBN table final bids for Hong Kong telecom company Wharf T&T
07 September 2016
Private equity firm KKR & Co and Hong Kong-based telecommunications company HKBN Ltd have tabled final bids for Hong Kong telecom company Wharf T&T, which may fetch its owner Wharf Holdings Ltd around $1 billion to $1.2 billion, Reuters yesterday reported, citing people familiar with the matter.
North Asian buyout firm MBK Partners and TPG Capital Management have also made a joint bid for Wharf T&T, as well as a bid from SmarTone Telecommunications Holdings Ltd, the report said.
Wharf Holdings, backed by Hong Kong tycoon Peter Woo, owns Hong Kong marquee properties including the Times Square and Harbour City shopping malls.
Last year, it launched a strategic review of its communications, media and entertainment division, which includes Wharf T&T and pay-TV operator i-Cable Communications Ltd.
Bloomberg had earlier reported that Hong Kong-listed Nan Hai Corp and at least one mainland Chinese bidder have submitted proposals to acquire i-Cable.
Wharf T&T is Hong Kong's second-largest business fixed-line operator and the only ICT service provider in Hong Kong focusing on the business sector.