Latest news with #ISquared
Time of India
30-06-2025
- Business
- Time of India
US-based I Squared Capital dumps plans to make separate offer for Hong Kong's HKBN
By Rishav Chatterjee U.S.-based infrastructure investment firm I Squared Capital has withdrawn plans to make a takeover offer for Hong Kong's HKBN , the broadband operator said on Monday, as a competing bid backed by a state-owned entity takes center stage. The announcement comes over a month after Reuters reported that China Mobile was nearing a deal to take over HKBN with I Squared having dropped out. I Squared already owns Hong Kong-based broadband provider HGC Global Communications , in which China Investment Corp. holds a minority stake. However, the Miami-based firm has so far been unable to secure approval from the Chinese sovereign wealth fund to proceed with a formal bid for HKBN, according to the Reuters report. Rival suitor China Mobile built a 15.5% stake in HKBN from buyout company TPG and has offered HK$7.8 billion ($993.64 million) for the broadband firm. I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share, which was made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. HKBN CEO William Yeung said in May it was a "rumour" that China Investment Corp had vetoed I Squared's plan to present a formal offer for HKBN. The takeover offer from China Mobile was not good enough and HKBN was open to engage with more bidders to get the best value for its shareholders, Yeung had said. "Despite the HKBN CEO's comments that the China Mobile offer is not good enough, China Mobile has no pressing need to bump if a competing offer fails to materialise," Smartkarma's Arun George said in a note before HKBN's announcement on Monday. I Squared Capital did not immediately respond to Reuters' request for comment over why it decided to walk away from making an offer. China Mobile also did not respond to a request for comment.
Business Times
30-06-2025
- Business
- Business Times
US-based I Squared Capital dumps plans to make separate offer for Hong Kong's HKBN
[HONG KONG] US-based infrastructure investment firm I Squared Capital has withdrawn plans to make a takeover offer for Hong Kong's HKBN, the broadband operator said on Monday (Jun 30), as a competing bid backed by a state-owned entity takes centre stage. The announcement comes over a month after Reuters reported that China Mobile was nearing a deal to take over HKBN with I Squared having dropped out. I Squared already owns Hong Kong-based broadband provider HGC Global Communications, in which China Investment Corp holds a minority stake. However, the Miami-based firm has so far been unable to secure approval from the Chinese sovereign wealth fund to proceed with a formal bid for HKBN, according to the Reuters report. Rival suitor China Mobile built a 15.5 per cent stake in HKBN from buyout company TPG and has offered HK$7.8 billion (S$1.3 billion) for the broadband firm. I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share, which was made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up HKBN CEO William Yeung said in May it was a 'rumour' that China Investment Corp had vetoed I Squared's plan to present a formal offer for HKBN. The takeover offer from China Mobile was not good enough and HKBN was open to engage with more bidders to get the best value for its shareholders, Yeung had said. 'Despite the HKBN CEO's comments that the China Mobile offer is not good enough, China Mobile has no pressing need to bump if a competing offer fails to materialise,' Smartkarma's Arun George said in a note before HKBN's announcement on Monday. I Squared Capital did not immediately respond to Reuters' request for comment over why it decided to walk away from making an offer. China Mobile also did not respond to a request for comment. REUTERS
Yahoo
30-06-2025
- Business
- Yahoo
US-based I Squared Capital dumps plans to make separate offer for Hong Kong's HKBN
(Reuters) -U.S.-based infrastructure investment firm I Squared Capital has withdrawn plans to make a takeover offer for Hong Kong's HKBN, the broadband operator said on Monday, as a competing bid backed by a state-owned entity takes center stage. The announcement comes over a month after Reuters reported that China Mobile was nearing a deal to take over HKBN with I Squared having dropped out. I Squared already owns Hong Kong-based broadband provider HGC Global Communications, in which China Investment Corp. holds a minority stake. However, the Miami-based firm has so far been unable to secure approval from the Chinese sovereign wealth fund to proceed with a formal bid for HKBN, according to the Reuters report from May. Rival suitor China Mobile built a 15.5% stake in HKBN from buyout company TPG and has offered HK$7.8 billion ($993.64 million) for the broadband firm. I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share, which was made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. HKBN CEO William Yeung said in May it was a "rumour" that China Investment Corp had vetoed I Squared's plan to present a formal offer for HKBN. I Squared Capital did not immediately respond to Reuters' request for comment over why it decided to walk away from making an offer. ($1 = 7.8499 Hong Kong dollars) Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
30-06-2025
- Business
- Yahoo
US-based I Squared Capital dumps plans to make separate offer for Hong Kong's HKBN
(Reuters) -U.S.-based infrastructure investment firm I Squared Capital has withdrawn plans to make a takeover offer for Hong Kong's HKBN, the broadband operator said on Monday, as a competing bid backed by a state-owned entity takes center stage. The announcement comes over a month after Reuters reported that China Mobile was nearing a deal to take over HKBN with I Squared having dropped out. I Squared already owns Hong Kong-based broadband provider HGC Global Communications, in which China Investment Corp. holds a minority stake. However, the Miami-based firm has so far been unable to secure approval from the Chinese sovereign wealth fund to proceed with a formal bid for HKBN, according to the Reuters report from May. Rival suitor China Mobile built a 15.5% stake in HKBN from buyout company TPG and has offered HK$7.8 billion ($993.64 million) for the broadband firm. I Squared was preparing to trump China Mobile's offer of HK$5.23 per HKBN share, which was made in December, but was not keen to pay more than HK$6 apiece, Reuters reported in January. HKBN CEO William Yeung said in May it was a "rumour" that China Investment Corp had vetoed I Squared's plan to present a formal offer for HKBN. I Squared Capital did not immediately respond to Reuters' request for comment over why it decided to walk away from making an offer. ($1 = 7.8499 Hong Kong dollars)
CNA
30-05-2025
- Business
- CNA
Exclusive-Kretinsky's EPH, Itochu among expected bidders for Energia, sources say
LONDON :Daniel Kretinsky-backed Czech energy group EPH and Japanese trading house Itochu are expected to make preliminary bids for Irish utility Energia Group, according to two sources with knowledge of the situation. Other expected bidders include investors Ardian, Asterion and CPP Investments, the people said. Itochu is expected to form a consortium and CPP Investments may team up with Britain's Octopus Energy, which it is an investor in, one of the people said. After being acquired by private equity firm I Squared for about $1 billion in 2016, a new sale could value Energia Group at more than 2 billion euros ($2.27 billion) including debt, the sources and a third one said. Non-binding offers are due this week, the sources and a fourth one said. All four sources spoke on condition of anonymity because the matter is private. I Squared, CPP Investments, Itochu, EPH, Ardian, Asterion all declined to comment. Energia Group referred questions to I Squared and Octopus Energy did not reply immediately to a request for comment. Energia Group, which supplies approximately 17 per cent of Ireland's total electricity requirements, is the latest power company to draw investor interest following the acquisition of Electricity North West by Iberdrola last year. The company is an integrated utility with investments in renewables, power distribution, data centres and gas turbines. Energia Group recently secured permission from Irish authorities to build a data centre in Dublin allowing its sale process to go ahead, three of the sources said. ($1 = 0.8814 euros)
