China Mobile to buy 12 per cent stake in Far Eastone (Taiwan)
-
China Mobile Communications has entered into a strategic alliance with Taiwan's Far EasTone Telecommunications (FET) for a 12 per cent stake in the latter for $529 million.
FET will issue 444.341 million new shares specifically for private placement by China Mobile at a 13.64 per cent premium based on the closing share price on April 29. The companies plan to cooperate closely in a number of areas, including procurement, roaming services, data and value-added services, and network and technology advancement. The deal is the first direct investment in the island by a mainland-based company in over 60 years, and comes a day after the Chinese Ministry of Commerce lifted the ban on investments in Taiwan.
- Most Viewed
- Most Rated
- Most Shared
- Related Articles
- Sterlite Technologies announces results ...
- Margins Under Pressure - Bharti and Idea...
- GTL Limited reports 26 per cent fall in ...
- Sify Technologies Limited reports third ...
- Financial briefs of March 2011
- Rush for Funds - 3G and BWA auctions spu...
- Spice Group plans to raise $ 1 billion t...
- Spice Mobility Limited plans to transfer...
- MTNL posts its results for the first qua...
- Banglalink raises $102 million through c...
No Most Rated articles exists!!
