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Far EasTone Leading $2.3 Billion Takeover Bid

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Taiwan's Far EasTone Telecommunications has reportedly joined a consortium of bidders that are planning a USD2.3 billion takeover bid for the country's largest cable network operator.

Citing people familiar with the matter, the Wall Street Journal reported that Far EasTone has teamed up with Morgan Stanley 's private equity arm to bid for China Network Systems.

The move, if confirmed, would enable Far EasTone to bundle its mobile services with landline offerings, as well as cutting some shared costs.

China Network Systems has around 1.3 million subscribers, of which some 250,000 are also internet subscribers on top of their TV services.

A final agreement is expected to be announced in the coming days.

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Tags: far eastone  Taiwan