China Mobile, the world’s largest wireless carrier by subscriber base, has acquired a 14.4% stake in Hong Kong-based broadband provider HKBN for HK$1.08 billion (approximately $137.6 million). The strategic purchase marks a major step in China Mobile’s efforts to expand its footprint in the Hong Kong telecommunications market.
The deal was executed through China Mobile Hong Kong (CMHK), a subsidiary of China Mobile, which bought 213.6 million shares from Twin Holding at HK$5.075 per share. This acquisition increases China Mobile’s total stake in HKBN to nearly 30%, advancing a takeover interest it first signaled nearly two years ago.
win Holding, which previously held about 15.46% of HKBN, now retains just 1.02% following the transaction. HKBN is among the leading telecom operators in Hong Kong, and China Mobile’s growing stake positions it more prominently in the region’s competitive broadband market.
