- China Mobile International Holdings has acquired a 14.76% stake in HKBN for $138 million via GBA Investment.
- The deal marks a new phase in Greater Bay Area telecom consolidation and intensifies mainland players’ role in Hong Kong’s digital infrastructure.
What happened: China Mobile joins GBA-led buyout of HKBN
China Mobile International Holdings has acquired a 14.76% stake in Hong Kong Broadband Network (HKBN) for HK$1.08 billion (US$138 million). The deal was made through GBA Investment, a private equity-led consortium backed by MBK Partners and Town Health International. This new holding vehicle is now the controlling shareholder of HKBN.
The investment was structured as a minority and passive stake. China Mobile will not have any representation on HKBN’s board and has confirmed it will not participate in day-to-day operations. The broader buyout valued HKBN at over HK$8.86 billion (US$1.13 billion), marking one of the most notable telecommunications transactions in Hong Kong this year. Details of the transaction were first reported by Tech in Asia.
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Why it’s important
The deal reflects China Mobile’s growing interest in integrating more deeply into Hong Kong’s telecommunications infrastructure as part of China’s Greater Bay Area (GBA) strategy. Although the company has no direct management control, this stake opens new possibilities for service expansion, cross-border enterprise offerings, and enhanced network connectivity between Hong Kong and mainland China.
Analysts say the transaction could reshape the city’s broadband landscape by introducing subtle influence from mainland operators. With HKBN’s residential and business fibre networks, China Mobile gains indirect access to more than one million local broadband customers. China Mobile’s broader international strategy, as outlined on its official global site, highlights its ambition to grow infrastructure and cloud services across Asia. The deal also raises questions about cross-border regulatory alignment and public interest oversight in Hong Kong’s digital infrastructure.
