Taiwan Mobile sells stake to fund for $433 mn
Taiwan Mobile , the island's No.3 telecoms operator, has sold a 6 percent stake to a foreign private equity fund in a deal estimated at T$14 billion (US$433 million), local newspapers said on Saturday.
By Agencies |
TAIPEI: Taiwan Mobile , the island's No.3 telecoms operator, has sold a 6 percent stake to a foreign private equity fund in a deal estimated at T$14 billion (US$433 million), local newspapers said on Saturday. The buyer could include the Carlyle Group , MBK Partners or the Blackstone Group, the Commercial Times and the Economic Daily reported.
The reports came one day after Taiwan Mobile said the stake would be sold via bulk trading to raise capital for operation, a company filing to the Taiwan stock exchange showed. No other details were given. After the transaction, foreign ownership in Taiwan Mobile will hit 48.47 percent, reaching the 49 percent maximum allowed in a Taiwan telecom operator, the Economic Daily said.
The deal is expected to close before Jan. 31, the paper added. Stocks of Taiwan Mobile ended 1.96 percent lower on Friday, underperforming the benchmark TAIEX , which rose 2.96 percent.
The reports came one day after Taiwan Mobile said the stake would be sold via bulk trading to raise capital for operation, a company filing to the Taiwan stock exchange showed. No other details were given. After the transaction, foreign ownership in Taiwan Mobile will hit 48.47 percent, reaching the 49 percent maximum allowed in a Taiwan telecom operator, the Economic Daily said.
The deal is expected to close before Jan. 31, the paper added. Stocks of Taiwan Mobile ended 1.96 percent lower on Friday, underperforming the benchmark TAIEX , which rose 2.96 percent.
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