The combination of two challenger telecoms providers means for the first time in Hong Kong businesses have a credible alternative to the overweening incumbent, Hong Kong Telecommunications HKT.
Hong Kong-based residential carrier HKBN is buying the territory's second-largest fixed-line telecoms operator for businesses WTT, formerly known as Wharf TT, in an all-stock deal that enlarges HKBN's share base by 47%.
Buyout firms MBK Partners and TPG are essentially swapping their recently acquired control of WTT for a 32% stake in a larger, more efficient business, according to a Hong Kong stock exchange filing on August 7.
The...
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