** Shares of Hong Kong telecommunications company HKBN Ltd

jump 14.6% to HK$4.94, their highest since June 2023

** Stock on track for biggest one-day pct gain since Nov. 3, 2023

** HKBN said on Wednesday it has received a non-binding proposal from state-owned China Mobile for a possible takeover of the broadband firm, as China Mobile aims to bolster its foothold in Hong Kong

** Co, with current market capitalisation of $783.7 mln, said it was still in discussions with China Mobile on the terms of the proposal, including the price

** Shanghai shares of China Mobile slip 1.1% while Hong Kong-listed stock dips 0.2%

** Hang Seng Commerce & Industry Index eases 0.4%,

Hang Seng Composite Index tracking telecommunication stocks

slips 0.2% and Hang Seng Index down 0.3%

** HKBN stock up 33.2% YTD

($1 = 7.7821 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))