China Mobile Hong Kong Company Limited has provided an update on its pre-conditional voluntary cash offer to acquire all issued shares in HKBN Ltd. that it does not already own. The company reported that it is making positive progress with the necessary regulatory approvals, having already obtained clearance from the State-Owned Assets Supervision and Administration Commission of the State Council. Additionally, China Mobile Hong Kong is actively engaging with other relevant Chinese regulatory bodies and the Communications Authority. Following constructive discussions with the Communications Authority, the company has proposed commitments to address any concerns, which the Authority has indicated it intends to accept. The update follows previous announcements made in December 2024 regarding the transaction.
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