The CEO of Hong Kong Broadband Network (HKBN), William Yeung, has dismissed China Mobile’s proposed HK$7.8 billion takeover offer, stating that it significantly undervalues the telecom operator’s market position and long-term growth potential. Yeung pointed to HKBN’s recent EBITDA growth and ongoing infrastructure investments as key indicators that the company is worth more than the adjusted HK$4.91 per share offer.
While China Mobile remains the frontrunner in the acquisition talks, Yeung confirmed that HKBN is keeping the door open to alternative bidders and has not ruled out continued discussions with U.S.-based I Squared Capital, despite reports of its withdrawal. He emphasized that any deal must reflect HKBN’s strategic value in the fast-evolving broadband and 25G infrastructure market.
The CEO also raised concerns about data protection and contractual obligations with partners if a China Mobile acquisition were to proceed, hinting at broader privacy and regulatory implications. HKBN’s leadership remains focused on shareholder value and market expansion, including plans to scale operations in both Hong Kong and Mainland China.
