China Mobile gets 15.5% stake in HKBN in bid to fend off rival I Squared Capital
I Squared Capital’s potential takeover offer for Hong Kong internet provider HKBN is facing hurdles, as it tries to convince China’s sovereign wealth fund of the merits of the deal and a competing state-backed bidder built a significant stake. Rival suitor China Mobile agreed to acquire a 15.5 per cent holding in HKBN from buyout…