Hong Kong tycoon Peter Woo’s Wharf Holdings Ltd plans to sell its telecoms business in a deal that could be worth more than $1 billion, people familiar with the matter said, and has asked more than a dozen potential suitors, including both giant Chinese insurers and Western buyout firms, to submit bids.

KKR & Co, CVC Capital and TPG Capital Management are among the companies invited to submit bids, the people told Reuters. First-round bids are due by end-June, they said.

Insurers Anbang Insurance Group and Ping An Insurance Group, as well as acquisitive technology conglomerate Tsinghua Unigroup, are among the other suitors invited to bid, one of the people said.

READ FULL ARTICLE HERE