China Mobile Says Obtained China SASAC’s Approval for HKBN Deal

China Mobile Hong Kong has obtained approval from the State-Owned Assets Supervision and Administration Commission of the State Council for the HKBN deal, according to an HKEX filing.

• Says “making very positive progress” with relevant authorities, with a view to satisfying pre-conditions as soon as possible
• Actively engaging with other Chinese authorities, including the National Development and Reform Commission and the Ministry of Commerce, and Hong Kong’s Communications Authority
• NOTE: HKBN Evaluating Options, I Squared Offer Subject to Own Approval
  • HKBN’s CEO Says China Mobile Takeover Offer Undervalues Firm

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