US-based I Squared Capital to finalise offer for Hong Kong's HKBN

US-based infrastructure investment firm I Squared Capital is finalising the terms of a possible pre-conditional offer for Hong Kong-listed HKBN (1310) the broadband operator said on Thursday.

Sources told Reuters in January that the offer could value HKBN at up to US$1 billion (HK$7.8 billion).

If the offer materialises, it would rival China Mobile's (0941), HK$5.23 per share offer tabled last December.

According to the same sources, I Squared Capital was not keen on offering more than HK$6 apiece for the telecommunications firm.

Founded in 1999, HKBN provides internet, data centre and WiFi services, among others.

The Hong Kong firm currently holds a market value of HK$7.27 billion with a share price of HK$5.21.

REUTERS