HONG KONG: Hong Kong tycoon Peter Woo’s Wharf Holdings Ltd has agreed to sell its telecom business to a consortium of TPG Capital Management LP and MBK Partners for HK$9.5bil (US$1.22bil), a person familiar with the matter told Reuters.
The field of contenders to buy the business had narrowed to the TPG-MBK group and telecom firm HKBN Ltd after Wharf received about half a dozen final bids earlier this month.
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