Taiwanese telco Far EasTone Telecommunications is hoping to sell a stake in itself to Chinese mobile network operator China Mobile in 2012, according to a Reuters report.
Douglas Hsu, the chairman of the Taiwanese company, was quoted saying that a…
Taiwanese telco Far EasTone Telecommunications is hoping to sell a stake in itself to Chinese mobile network operator China Mobile in 2012, according to a Reuters report.
Douglas Hsu, the chairman of the Taiwanese company, was quoted saying that a deal could take place after the country elects a new president in January.
Since 2009, there have been talks between the two companies about the sale of 12% Far EasTone stake for around US$533m. But the transaction hit a regulatory stumbling block when Taiwan’s government said the sale contravened FDI laws.
However, in recent years, relationships between the two countries have been warming up, which could lead the way for more cross-border transactions.
