China Mobile's (HKG:0941) planned acquisition of broadband operator HKBN (HKG:1310) is in limbo pending regulatory feedback from mainland China, The Standard reported Wednesday, citing Sing Tao Daily.
More than two months have gone by since China Mobile proposed the purchase but regulators have been silent, the report said, citing sources.
The state's ownership of China Mobile is not a guarantee for a successful transaction, the report said.
China Mobile had submitted antitrust papers to the Office of the Communications Authority in Hong Kong and had a smooth process locally, the report said.
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