Major shareholders of broadband company HKBN (HKG:1310) have been uneasy about the slow pace of approval of a buyout, The Standard reported Tuesday, citing sister publication Sing Tao Daily.
The proposed acquisition by China Mobile (HKG:0941, SHA:600941) is still in limbo, awaiting regulatory approval from mainland Chinese authorities, the report said.
HKBN's price would likely fall should mainland China regulators not clear the deal and result in a withdrawal of China Mobile's offer, according to the report.
Another potential buyer, I Squared Capital, which offered to buy the broadband company at a higher price, has not yet submitted any offer, The Standard said.
I Squared Capital's hesitation could be due to financial reasons and long-term planning, according to The Standard.
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