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Stock impact report

China Mobile Is Said to Mull Deal for Internet Provider HKBN [Yahoo! Finance Canada]

TPG Inc. - Class A (TPG) 
Most Read from Bloomberg State-backed China Mobile has been holding discussions about a deal with HKBN's major shareholders, buyout firms MBK Partners and TPG Inc., the people said. It has 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. China Mobile has conducted due diligence on the potential acquisition and is currently negotiating with MBK and TPG over the price of a potential deal, the people said. They may hold out for a higher valuation and there's no certainty the parties will reach an agreement, according to the people. HKBN shares have climbed 24% this year, giving the company a market value of about HK$5.7 billion. Other suitors including private equity firms remain interested in HKBN, and another buyer could still emerge, the people said. Shares of HKBN were suspended from trading Tuesday morning in Hong Kong, pending an announcement under th Show less Read more
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