Taiwan-based Ting Hsin International Group has confirmed it has received expressions of interest in its majority stake in mobile operator Taiwan Star Cellular.
The Taipei Times cited a spokesman for the conglomerate as saying it has been contacted by…
Taiwan-based Ting Hsin International Group has confirmed it has received expressions of interest in its majority stake in mobile operator Taiwan Star Cellular.
The Taipei Times cited a spokesman for the conglomerate as saying it has been contacted by more than one company about the shares, but has not yet made any decision.
He declined to name the companies but said the frequent media reports on the potential sale could reflect growing competition for the asset.
The confirmation came shortly after a Chinese-language publication reported that Ting Hsin, which has reportedly pledged to sell non-core local businesses, is expected to agree a deal to sell its 52% stake in Taiwan Star by the end of this quarter or early next.
Taiwan Star’s other major shareholders, including Cathay Financial Holding, CTBC Financial Holding and Cheng Uei Precision Industry, plan to increase their stakes, the report stated.
Taiwan’s largest mobile operator Chunghwha Telecom and smaller rival Far Eastone Telecommunications are also reportedly interested in buying a stake in Taiwan Star to boost their 4G capabilities.
Taiwan Star bought its 4G licence in 2013 and, last year, acquired rival Vibo Telecom under a 1:3 stock swap to create the country’s fifth-largest mobile player.
