In December, China Mobile Ltd. $0941.HK submitted a formal cash offer to acquire all shares of HKBN Ltd. $1310.HK at HKD 5.23 per share. This bid valued the broadband provider at approximately HKD 6.86 billion (USD 875 million). Soon after, China Mobile further strengthened its position by securing a 15.5% stake in HKBN from TPG Inc. $TPG, signaling a determined push into Hong Kong’s broadband sector.