TPG, MBK agree sale of Wharf T&T to Hong Kong’s HKBN
TPG Capital and MBK Partners have agreed to sell Hong Kong telecom services provider Wharf T&T to internet service provider Hong Kong Broadband Network (HKBN) at an enterprise valuation of HK$10.5 billion ($1.3 billion).
According to a filing, HKBN will pay TPG and MBK HK$1.8 billion each in the form of 153 million shares at HK$11.60 each, representing a 20.6% stake in the company overall. Each seller will also receive...
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