:Hong Kong's HKBN Ltd 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
:Hong Kong's HKBN Ltd 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.
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