Taiwan’s telecoms regulator has reportedly approved 4G upstart Taiwan Star’s merger with its larger mobile rival Vibo Telecom.
Taiwan Star, which bought its 4G licence last year and is owned by the country’s wealthy Wei family, bought Vibo under a…
Taiwan’s telecoms regulator has reportedly approved 4G upstart Taiwan Star’s merger with its larger mobile rival Vibo Telecom.
Taiwan Star, which bought its 4G licence last year and is owned by the country’s wealthy Wei family, bought Vibo under a 1:3 stock swap to create Taiwan’s fifth-largest player.
Its customers will be moved over to Vibo’s network, which has more subscribers but will take the former’s name, reported the Taipei Times citing a National Communications Commission (NCC) spokesperson.
Vibo was previously fully-owned by Kinpo Electronics and Compal Electronics.
The Wei family meanwhile also controls a large food business, and was recently reported to have hired UBS to help it buy a majority stake in China Network Systems, the island’s largest cable TV operator, for US$2.4bn.
The NCC spokesperson also said it had approved a new 3G licence for Asia Pacific Telecom (APT), according to the Taipei Times, after the Taiwanese mobile operator raised its capital and changed its legal representative.
APT is being acquired by local phone device manufacturer Foxconn.