HKBN confirms takeover interest from infrastructure investor (updated)

HKBN

02/03/2023 05:22

(Adds details from filing, context. Updates code for media
clients)
       March 2 (Reuters) - Hong Kong's HKBN Ltd  1310.HK  on
Thursday confirmed it received a non-binding letter of interest
from infrastructure investor I Squared Asia Advisors expressing
an intent to take over the telecommunication service provider. 
    HKBN said in a filing it has not yet reached an agreement,
and will pursue further talks with the party.  
    The potential offer, if it proceeds, may be "consummated
through HGC Global Communications Limited and/or one of its
affiliates," HKBN said. 
    Trading in HKBN's shares was set to resume on Thursday after
being halted on Tuesday, according to the filing. 
    Bloomberg reported on Tuesday, citing sources, that HGC
Global Communications Ltd has lodged a takeover offer that could
value HKBN at over $1 billion. 

 (Reporting by Harshita Swaminathan and Roxanne Liu; Editing by
Dhanya Ann Thoppil and Christian Schmollinger)
 ((Harshita.Swaminathan@thomsonreuters.com;))