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(From South China Morning Post)
Byline: Ben Kwok
SmarTone shareholder BT might consider accepting a general offer from Sun Hung Kai Properties (SHKP) as a way to exit its investment in the mobile-phone operator, according to independent adviser ING Bank.
The remarks came despite the Dutch bank advising other shareholders not to accept an offer it described as "not fair and reasonable".
Shareholders could realise a higher value for their shares by selling them on the market than by accepting SHKP's offer at HK$8.25, ING said.
However, large shareholders, including the British telecommunications company, which owns 20.75 per cent, …