Deacons and Freshfields Bruckhaus Deringer have advised The Wharf (Holdings) Ltd on the disposal of its telecoms unit, Wharf T&T Ltd, to private equity firms MBK Partners and TPG, which were both represented by Clifford Chance.
With a value of approximately $1.22 billion, this is the largest M&A deal in the Hong Kong telecommunications industry since HKT Ltd acquired CSL New World Mobility Ltd in 2014.
The Deacons team was led by corporate finance head Ronny Chow, while Freshfields’ team was headed by ACT partner Alistair Mordaunt and corporate partner Edward Freeman. Andrew Whan and Anthony Wang led the CC team.
Wharf T&T is Hong Kong’s largest purely enterprise-focused telecoms service provider, with a fibre optic network covering approximately 90 percent of the commercial market. Its divestment is a result of a strategic review of their communication, media and entertainment (CME) business segment.
