HKBN slumps to lowest in almost 8 months as buyout talks with I Squared end

HKBN

14/06/2023 04:56

** Shares of broadband network and Wi-Fi services provider
HKBN  1310.HK  fall as much as 7.8% to HK$4.70, their lowest
since Oct 28, and on course for a third session of losses
    ** Stock set for the biggest one-day pct drop since Oct 28,
if losses hold, and is biggest percentage decliner in Hang Seng
Composite Index on telecommunication stocks  .HSCIT  and
fourth-biggest pct loser in Hang Seng Composite Index  .HSCI  
    ** The telecom group said on Tuesday it had ended buyout
talks with I Squared Asia Advisors, the parent company of
internet service provider HGC Global Communications 
    ** Hang Seng Composite Index tracking telecommunication
stocks  .HSCIT  falls 1.1%, while Hang Seng Composite Index
 .HSCI  gains 0.2% and Hang Seng Index  .HSI  climbs 0.1%
    ** As of last close, stock up 1.4% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))