HKBN’s CEO Says China Mobile Takeover Offer Undervalues Firm (1)

China Mobile Ltd.’s takeover offer for HKBN Ltd.undervalues the company, according to the Hong Kong broadband provider’s top executive.

“I can swear to you, it does not reflect the value we deserve,” HKBN Chief Executive Officer and co-founder William Yeung said in an interview with Bloomberg News on Monday.

China Mobile in December made a general offer to buy all of HKBN’s shares for HK$5.23 each in cash, valuing the company at about HK$6.86 billion ($875 million). In April, the state-owned company bought a 15.5% holding in HKBN from buyout firm TPG Inc.

HKBN was trading ex-dividend Tuesday, ...