China Mobile's HKBN takeover bid secures key regulatory approval

China Mobile Hong Kong Company Limited's (China Mobile HK) bid to acquire all issued shares of HKBN Ltd. (HKEX:1310), excluding those already owned by China Mobile HK and related parties, has cleared a significant hurdle with approval from China's National Development and Reform Commission (NDRC). This approval, announced on June 20, 2025, satisfies one of the pre-conditions for the voluntary general cash offer managed by China International Capital Corporation Hong Kong Securities Limited. The initial announcement of the pre-conditional offer was made on December 2, 2024.