IDG Considers Offer for Hong Kong Broadband Firm HKBN
- HKBN shareholders started strategic review earlier this year
- HKBN’s shares climb as much as 14% following Bloomberg report
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China-focused investment firm IDG Capital is exploring a buyout of HKBN Ltd., people with knowledge of the situation said, as the owners of the Hong Kong broadband service provider weigh their options for the company.
IDG has sounded out financing plans for a potential offer for the Hong Kong-listed firm, one of the people said. HKBN has also drawn preliminary interest from Chinese companies including China Mobile Ltd., the people said.