The deal allows Li's company, which already owns a separate mobile operator, to beef up its presence in the city's saturated mobile market. It also lets
The city's communications regulator plans to take back a third of the spectrum from four current license holders after they expire and auction it off, a move that will allow
The sale will help HKT compete for business from Hong Kongers, who are avid mobile phone users. The city had 16.7 million mobile accounts as of June, more than double the population of 7.1 million.
HKT said after the deal, which still needs approval from
"HKT believes that no significant competition concerns arise in relation to the proposed acquisition," the company said in a statement.
Most Popular Stories
- 5 Notable Hispanic Technology Executives
- Top Hispanic Tech Companies Push for the Top
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- Rand Paul Tops Presidential Straw Poll at Conservative PAC Conference
- Russia, Crimea Discuss Referendum
- China Urges Malaysia Flight Emergency Response
- New Chat App, Yik Yak, Causes Problems for Students
- Gas Prices May Jump from Calif. Emissions Law
- Obama Meets with Ukraine Prime Minister Wednesday
- Visa, MasterCard Team Up to Focus on Payment Security