HONG KONG Feb 9 Hong Kong broadcaster
Television Broadcasts Ltd (TVB)said it has received a
proposal from a third party to consider a possible conditional
offer for 29.9 percent of the issued share capital of the
In a separate statement, privately-owned TLG Movie and
Entertainment Group Ltd said it had sent a letter to TVB stating
that it was in a position to discuss a voluntary conditional
cash offer to buy the stake in TVB.
TLG, which is involved in cultural industry and real estate
development, said the offer would be subject to conditions
including TVB shareholders voting down a share buy back plan and
approval from the Communications Authority of Hong Kong.
TVB said it would obtain additional information as the third
party was not known to the company, while the identity of the
ultimate owner of the party, its source of funds and proof of
financial soundness had not been disclosed.
In January, TVB offered to buy back 31.51 percent of the
company's shares for HK$4.21 billion ($542.7 million), a deal to
be funded by cash.
TVB shares rose 5.9 percent to HK$31.40 in resumed trade,
the highest since Mar. 14, 2016
(Reporting by Donny Kwok; Editing by Stephen Coates)