China Mobile buys stake in Taiwan’s Far EasTone Telecommunications
By Dusan Belic on Monday, May 11th, 2009 at 1:52 AM PST In China Telecom
China Mobile (NYSE: CHL) is on the rage. Like all those users are not enough, the single largest mobile operator in terms of number of subscribers is expanding outside the mainland China. Their target is a Taiwan based mobile network operator – Far EasTone Telecommunications.
To get a 12% stake in the Taiwanese company, China Mobile paid around NT$17.77 billion ($529 million) through a new shares offering, marking the first such deal between mainland and Taiwan-based telecom firms.
Once the transaction is close, the two parties plan to cooperate in a number of areas, including procurement, roaming services, data and value-added services, and network and technology advancement…
[Via: CellularNews]
