China Mobile buys over 14% stake in HKBN for $138 million

China Mobile, the world’s biggest wireless carrier by users, said on Monday it had bought a 14.4% stake in Hong Kong-based broadband service provider HKBN for HK$1.08 billion ($137.58 million).

The deal gives China Mobile a nearly 30% stake in one of the largest telecommunication operators in Hong Kong that it first expressed interest in acquiring almost two years ago.