Possible Merger in Taiwan

The President of the Taiwan based GSM network, Far EasTone Telecommunications has said that his company is interested in buying the rival Mobitai Communications for around US$300 million. The follows the purchase by Far EasTone's parent company, Far Eastern Textile of a 4.25% stake in Mobitai yesterday. A takeover of Mobitai "is a sound, strategic move by the Far Eastern Group and it will herald further consolidation of cellular players in the Taiwan market,'' said Spencer White, the head of research at Merrill Lynch Taiwan Ltd."

Posted to the site on 14th September 2000