SmarTone, private-equity firms eye Wharf T&T – report - Mobile World Live

SmarTone, private-equity firms eye Wharf T&T – report

08 SEP 2016

Hong Kong’s smallest operator, SmarTone, and a group of private-equity firms are the latest companies to bid for Wharf T&T, a fixed-line and broadband provider for mostly corporate clients.

According to Bloomberg, MBK Partners and TPG Capital submitted a joint offer for Wharf T&T, which is owned by Wharf Holdings. SmarTone also submitted a bid.

KKR & Co and Hong Kong Broadband Network (HKBN) submitted bids for Wharf T&T and pay-TV operator i-Cable, both of which are controlled by Hong Kong billionaire Peter Woo and are expected to sell for $1 billion to $1.2 billion.

Wharf announced in March it was looking to offload the two units and is expected to name a winner by the end of the month.

Reuters reported that three other suitors submitted bids last week for Wharf’s telecoms assets. Hong Kong-listed Nan Hai Corp reportedly is one of a couple of firms interesting in acquiring i-Cable.

HKBN, whose biggest shareholder is Canadian pension fund CPPIB, is said to be the front-runner.

SmarTone, which has a 16 per cent market share, is controlled by the city’s largest property developer Sun Hung Kai.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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