HK TY­COON’S WHARF HOLD­INGS AGREES TO SELL TELECOM UNIT FOR $1.2BN

Capacity - - Asia Pacific -

Wharf Hold­ings, backed by ty­coon Peter Woo, is re­ported to have agreed to sell its Hong Kong tele­coms unit to MBK Part­ners and TPG Cap­i­tal Man­age­ment LP for $1.2 bil­lion.

Over the last few months Wharf had re­ceived bids for its Wharf T&T arm, which in­cluded bids from US pri­vate eq­uity firm KKR & Co and the Hong Kong Broad­band Net­work (HKBN), MBK Part­ners and TPG Cap­i­tal Man­age­ment LP, and Smart­tone Telecom­mu­ni­ca­tions Hold­ings.

HKBN had been seen as the fron­trun­ner but Hong Kong’s sec­ond-largest busi­ness fixed-line op­er­a­tor has now been sold to the TPG-MBK con­sor­tium group, ac­cord­ing to a Reuters re­port.

Wharf T&T in Hong Kong: $1.2bn deal

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