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Stock impact report

China Mobile Discusses Potential Deal for Internet Provider HKBN [Yahoo! Finance Canada]

TPG Inc. - Class A (TPG) 
Most Read from Bloomberg HKBN's board has received a non-binding proposal from China Mobile Hong Kong Co., a unit of the state-backed carrier, about a potential cash takeover bid, it said in an exchange filing Wednesday. China Mobile and HKBN are still in discussions on terms of the potential offer including the price, according to the filing, which confirmed an earlier Bloomberg News report. China Mobile has conducted due diligence on the potential acquisition and has been negotiating with HKBN's major shareholders, buyout firms MBK Partners and TPG Inc., people with knowledge of the matter said earlier. It indicated it's willing to pay at least HK$5 per share for their holdings, which would value the company at more than HK$6.5 billion ($835 million), according to the people. MBK and TPG may hold out for a higher valuation and there's no certainty the parties will reach an agreement, the people said. Other suitors including private equity firms remain interested in HKBN, and Show less Read more
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