HK regulator accepts CMHK fixes, clears HKBN acquisition

Hong Kong's Communications Authority announced it has accepted the commitments proposed by China Mobile Hong Kong regarding its planned acquisition of HKBN (1310). 

Consequently, the regulator stated it will not initiate an investigation into the suggested transaction under the Competition Ordinance.

The Hong Kong arm of China’s state-owned China Mobile (0941) proposed last December to buy HKBN at HK$5.23 per share. CMHK's offer was approved by the National Development and Reform Commission in June.

STAFF REPORTER