Date
22 September 2017

Hon Hai buying MBK’s stake in cable operator CNS, paper says

Taiwan’s Hon Hai Precision Industry Co. Ltd., the parent company of FIH Mobile Ltd. (02038.HK), is said to be buying more than 60 percent stake in local cable TV operator China Network systems Co. Ltd. (CNS), Economic Daily News reported Monday. The stake is being acquired from private-equity fund MBK Partners, which is currently the major shareholder of CNS, the report said. The deal, said to be worth up to NT$64.8 billion (US$2.14 billion), is seen helping Hon Hai to strengthen its footing in the fixed-line telecom field. 

– Contact HKEJ at [email protected]

TL/AC/RC

 

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