WTT HK
Fixed line telecommunication operator in Hong Kong
From Wikipedia, the free encyclopedia
WTT HK Limited (Chinese: 滙港電訊有限公司), was the second largest fixed-line telecommunication operator in Hong Kong.[1][better source needed] In 2018, it was acquired by competitor HKBN and renamed to HKBN Enterprise Solutions HK Limited.
 | |
| Type | Private |
|---|---|
| Industry | Telecommunication |
| Founded | 1995 |
| Defunct | 2019 |
| Fate | acquired by HKBN |
| Successor | HKBN Enterprise Solutions HK Limited |
| Headquarters | Kowloon Bay, |
Area served | Hong Kong |
| Owner | |
| Subsidiaries |
|
| Website | wtthk |
A member of the business groups TPG Capital and MBK Partners,[1] as well as formerly The Wharf (Holdings), WTT HK was formerly known as Wharf T&T Limited (Chinese: 九倉電訊有限公司),[2][non-primary source needed] New T&T Limited (Chinese: 香港新電訊有限公司)[3][4] and Wharf New T&T Limited (Chinese: 九倉新電訊有限公司).[5]
History
Established in 1995 as New T&T Limited,[6] it was one of the first[citation needed] telecommunication operators to be offered a fixed line license after the Hong Kong Government decided to open this market to competition;[7] Cable & Wireless Hong Kong Telecom had heretofore enjoyed a monopoly.[4] The next year New T&T Limited was offering IDD service and residential fixed-line services.[8]
Making its first net profit in financial year 2001,[9] it was soon after renamed Wharf New T&T Limited.[10]
In 2003, the name had changed into Wharf T&T Limited.[11]
By 2006, the company decided to differentiate its offerings by providing some services through a different unit; Wharf T&T would focus on business clients and subsidiary i-Cable Communications, residential ones.[12]
In 2007, it founded Wharf T&T eBusiness Limited, a subsidiary that delivers broadband applications and web applications to SME customers.[13]
In 2016, MBK Partners, North Asia’s buyout firm, and TPG, a global alternative asset firm, completed the acquisition of Wharf T&T Limited from The Wharf (Holdings) Limited on 9 November 2016. [14]
In 2017, Wharf T&T Limited announced the Company name change to WTT HK Limited (“WTT”).[15]
However, in 2018, it was announced that WTT HK would be merged with HKBN.[16][17] The deal was approved by the regulators[18] and completed in the same year.[19] In September 2019, WTT HK Limited was renamed into HKBN Enterprise Solutions HK Limited, as part of HKBN's unit HKBN Enterprise Solutions.[20]