HKBN buys New World telecom for $83m

Co-owner Ni Quiaque Lai tells FinanceAsia the purchase will help HKBN expand faster, with further industry consolidation likely.

Richard Morrow

February 19, 2016

Hong Kong-based fibre optic telecom company HKBN agreed to buy the telecom and online marketing business of New World Development for HK$650 million ($83.48 million) on Thursday, as part of its effort to become Hong Kong’s largest broadband provider.

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