Hong Kong telecoms carriers bulk up for battle with HKT

COO NiQ Lai tells FinanceAsia how GIC-backed HKBN is more ready than ever to take on PCCW’s HKT after finally bagging WTT. Investors’ will focus on the delivery of promised synergies and fierce competition in the sector.

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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