Taiwan Mobile Secures 74.09% Of Fixed-Line Co In Tender Offer
TAIPEI -(Dow Jones)- Taiwan Mobile bought a 74.09% stake in fixed-line operator Taiwan Fixed Network through a tender offer ended Friday afternoon.
In a Taiwan Stock Exchange filing, Taiwan Mobile said it bought a total of 4.78 billion shares, or a 74.09% stake, in Taiwan Fixed Network in the tender offer through its wholly owned unit Taihsing International Telecommunications.
Based on an earlier statement by Taiwan Mobile that it would pay NT$8.3 for each share, the mobile operator would have spent NT$39.67 billion on the additional stake in Taiwan Fixed Network.
The island's third-largest mobile operator by revenue launched the tender offer in March to increase its holding in Taiwan Fixed Network to help diversify into cable-television and broadband services.
Taiwan Mobile held 9.95% of the fixed-line operator before the tender offer.
-By Perris Lee Choon Siong; Dow Jones Newswires; 8862-2502-2557; perris.lee@dowjones.com
(END) Dow Jones Newswires "
Posted to the site on 15th April 2007
