HKBN (1310 HK): Just How Likely Is An I Squared Offer?
Two hours before China Mobile's pre-conditional voluntary Offer announcement on the 2 December, HKBN Ltd (1310 HK) flagged a possible separate Offer from I Squared Asia-backed HGC Global Communication (HGC).
No price was mentioned, although HKBN and I Squared "are in discussions on the terms of the proposal (including the price)." The media is reporting a HK$5-HK$6/share price range.
Apart from anti-competition concerns via a HKBN/HGC tie-in; would HGC even get approval from the powers that be to proceed with a merger?
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