Update | Fast-track disposal of i-Cable stake tipped for Hong Kong’s Wharf
Move would follow HK$9.5b buyout of telecoms unit Wharf T&T by private equity firms MBK Partners and TPG
Property giant The Wharf (Holdings) may step up the sale of its interest in struggling pay-television operator i-Cable Communications, following the acquisition of its fixed-line telecommunications business by private equity firms MBK Partners and TPG for HK$9.5 billion in cash.
Speculation was rife, however, that the Wharf group could strike a deal sooner than later.
“If I’m doing the deal, I’m doing it right now because who knows what will happen next year,” Alfred Lau, an analyst at Bocom International, told the South China Morning Post.
“What i-Cable and Wharf T&T have in common is that these are both well-established businesses with steady income, which appeals to private equity companies and other investors looking for such opportunities.”