I Squared Capital Is Said to Begin Due Diligence Work on HKBN
- Private equity firm may decide on formal offer within weeks
- Move could rival takeover proposal by state-owned China Mobile
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I Squared Capital has started due diligence on Hong Kong-listed HKBN Ltd., people familiar with the matter said, as the US private equity firm gears up to potentially make a formal offer for the broadband company.
I Squared plans to analyze HKBN’s financials and assets over the coming weeks before it makes a decision on whether to proceed with an offer, the people said, asking not to be identified discussing confidential information. Considerations are ongoing and no final decisions have been made, the people said.