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China Tower invites banks to pitch for role in up to $10 bln HK IPO -IFR
May 29, 2017 / 2:52 AM / 7 months ago

China Tower invites banks to pitch for role in up to $10 bln HK IPO -IFR

HONG KONG, May 29 (Reuters) - China Tower Corp, which owns and manages the mobile phone towers for China’s three state-owned telecom operators, has invited investment banks to pitch for a role in a Hong Kong IPO worth up to $10 billion, IFR reported on Monday.

The IPO would take place in late 2017 or early 2018, said IFR, a Thomson Reuters publication, citing people close to the deal.

China Unicom Hong Kong Ltd, China Mobile Ltd and China Telecom Corp Ltd formed China Tower in October 2015 to save on infrastructure investment and cut management costs for their mobile phone towers.

The companies did not immediately reply to a Reuters request for comment on the China Tower IPO plans.

Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Edwina Gibbs

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