TPG, MBK pay high price for Wharf T&T

The private equity firms beat strategic buyer HKBN, which had penciled in extensive synergies.

Buyout firms TPG Capital and MBK Partners’ joint acquisition of Wharf T&T for HK$9.5 billion ($1.22 billion) looks pricey, especially since the telecoms firm will now face a fierce local competitor in HKBN, according to industry sources.

¬ Haymarket Media Limited. All rights reserved.

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