CVC Capital Partners Bids for Hong Kong's City Telecom

CVC Capital Partners will acquire Hong Kong's City Telecom for HK$5 billion (US$644 million).

Hong Kong Broadband Network Limited, a wholly-owned subsidiary of City Telecom (HK) Limited, has offered residential broadband services at 100 Mbps and 1 Gbps for several years over its fiber, CAT 5 metro Ethernet network. HKBN has over 1,240,000 subscribers.
http://www.ctihk.com