MTR completed the acquisition of Octopus Holdings from New World First Bus and Citybus.

MTR, a majority government-owned public transport operator and property developer, completed the acquisition of Octopus Holdings, a holding company based in Hong Kong, from New World First Bus and Citybus, a bus operator. Financial terms were not disclosed. “We are confident in the business prospects of OHL as Octopus remains the most popular means of electronic payment in Hong Kong. While the challenges from emerging operators offering different modes of electronic payment cannot be underestimated, OHL has been making efforts since the launch of Octopus in 1997 to expand its service into different facets of our daily lives as well as its presence in different parts of the world, and its achievements are evident,” Jacob Kam, MTR Corporation Chief Executive Officer.