Stock Track | HKBN Soars 5% as China Mobile Reportedly Eyes Acquisition

Stock Track

Nov 29, 2024

HKBN, a Hong Kong-based broadband provider, saw its stock surge 5.02% in Friday's intraday trading session, following reports that China Mobile, the world's largest mobile operator, has expressed interest in acquiring the company.

According to reports, China Mobile, a state-owned telecommunications giant, has submitted a non-binding proposal to acquire HKBN, which has a market capitalization of around $770 million. This potential acquisition would give China Mobile a significant foothold in Hong Kong's broadband market, where HKBN currently holds over a one-third market share.

The reported interest from China Mobile comes amidst broader trends of Chinese firms seeking opportunities in Hong Kong, where valuations have been depressed. Beijing has been encouraging deeper integration among cities in the Greater Bay Area, which includes Hong Kong, and has urged more Chinese companies to use the financial hub as a base for overseas expansions.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1161843203"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1161843203\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1161843203?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-29 11:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1161843203","market":"us","top_or_hot":-1,"title":"Stock Track | HKBN Soars 5% as China Mobile Reportedly Eyes Acquisition","media":"Stock Track","content":"<p>HKBN, a Hong Kong-based broadband provider, saw its stock surge 5.02% in Friday's intraday trading session, following reports that China Mobile, the world's largest mobile operator, has expressed interest in acquiring the company.</p>\n\n<p>According to reports, China Mobile, a state-owned telecommunications giant, has submitted a non-binding proposal to acquire HKBN, which has a market capitalization of around $770 million. This potential acquisition would give China Mobile a significant foothold in Hong Kong's broadband market, where HKBN currently holds over a one-third market share.</p>\n\n<p>The reported interest from China Mobile comes amidst broader trends of Chinese firms seeking opportunities in Hong Kong, where valuations have been depressed. Beijing has been encouraging deeper integration among cities in the Greater Bay Area, which includes Hong Kong, and has urged more Chinese companies to use the financial hub as a base for overseas expansions.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | HKBN Soars 5% as China Mobile Reportedly Eyes Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | HKBN Soars 5% as China Mobile Reportedly Eyes Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-29 11:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HKBN, a Hong Kong-based broadband provider, saw its stock surge 5.02% in Friday's intraday trading session, following reports that China Mobile, the world's largest mobile operator, has expressed interest in acquiring the company.</p>\n\n<p>According to reports, China Mobile, a state-owned telecommunications giant, has submitted a non-binding proposal to acquire HKBN, which has a market capitalization of around $770 million. This potential acquisition would give China Mobile a significant foothold in Hong Kong's broadband market, where HKBN currently holds over a one-third market share.</p>\n\n<p>The reported interest from China Mobile comes amidst broader trends of Chinese firms seeking opportunities in Hong Kong, where valuations have been depressed. Beijing has been encouraging deeper integration among cities in the Greater Bay Area, which includes Hong Kong, and has urged more Chinese companies to use the financial hub as a base for overseas expansions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01310","symbol_name":"香港宽频","start_time":0,"source_url":"","article_id":"1161843203","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1161843203","pubTimestamp":1732849711,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"HKBN, a Hong Kong-based broadband provider, saw its stock surge 5.02% in Friday's intraday trading session, following reports that China Mobile, the world's largest mobile operator, has expressed interest in acquiring the company.According to reports, China Mobile, a state-owned telecommunications giant, has submitted a non-binding proposal to acquire HKBN, which has a market capitalization of around $770 million. This potential acquisition would give China Mobile a significant foothold in Hong ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01310":"香港宽频"},"translate_title":"据报道中国移动有意收购香港宽频股价飙升5%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01310":1},"content_text":"HKBN, a Hong Kong-based broadband provider, saw its stock surge 5.02% in Friday's intraday trading session, following reports that China Mobile, the world's largest mobile operator, has expressed interest in acquiring the company.\nAccording to reports, China Mobile, a state-owned telecommunications giant, has submitted a non-binding proposal to acquire HKBN, which has a market capitalization of around $770 million. This potential acquisition would give China Mobile a significant foothold in Hong Kong's broadband market, where HKBN currently holds over a one-third market share.\nThe reported interest from China Mobile comes amidst broader trends of Chinese firms seeking opportunities in Hong Kong, where valuations have been depressed. Beijing has been encouraging deeper integration among cities in the Greater Bay Area, which includes Hong Kong, and has urged more Chinese companies to use the financial hub as a base for overseas expansions.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}