Taiwan market: Taiwan Mobile to take up MSO kbro from Carlyle
Taiwan Mobile (TWM) on September 16 announced that it will spend about NT$56.84 billion (US$1.73 billion) to take up 12 local cable TV networks, as well as other channel operating rights, from kbro, an MSO (multi-system operator) of which the Carlyle Group is the largest shareholder.
TWM said it will pay Carlye NT$440 million in cash, plus a 15.5% stake of the company equivalent to NT$32.4 billion. TWM will also take over kbro's debt of NT$24.0 billion, the telecom carrier said, adding with the stake, Carlyle will become the second largest shareholder of TWM.
The deal is to enhance TWM's competitiveness in digital convergence and cable TV-related services in the Taiwan market, company chairman Richard Tsai emphasized. The deal will increase TWM's TV subscribers from about 480,000 currently to 1.58 million to make it the largest player with a 32% share of the Taiwan market, TWM noted.
The acquisition is subject to approval by the Fair Trade Commission and the National Communications Commission, and TWM expects to obtain the approval as soon as the end of 2009, the company indicated.
source
TWM said it will pay Carlye NT$440 million in cash, plus a 15.5% stake of the company equivalent to NT$32.4 billion. TWM will also take over kbro's debt of NT$24.0 billion, the telecom carrier said, adding with the stake, Carlyle will become the second largest shareholder of TWM.
The deal is to enhance TWM's competitiveness in digital convergence and cable TV-related services in the Taiwan market, company chairman Richard Tsai emphasized. The deal will increase TWM's TV subscribers from about 480,000 currently to 1.58 million to make it the largest player with a 32% share of the Taiwan market, TWM noted.
The acquisition is subject to approval by the Fair Trade Commission and the National Communications Commission, and TWM expects to obtain the approval as soon as the end of 2009, the company indicated.
source
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