Mergers and Acquistions News
Categories: Telecoms
July 26th 2010, 10:58AM
Taiwan Mobile has acquired Taiwanese television operator Kbro from the Carlyle Group, it has been reported.
According to Reuters, sources "with direct knowledge of the situation" have said the $1.25 billion (£809 million) deal will go ahead.
The main shareholder, the Tsai family, will be in charge of the acquisition.
The Taiwanese television market is seen as lucrative because of its reliable and consistent cash flow, while telecoms firms see television acquisitions as helping to expand content and shore up competition.
The deal was originally proposed late last year but fell through due to a lapsed deadline.
The new deal is a "restructuring" of the original plan and will see the family, who control the mobile firm, pay $1.25 billion whilst also taking on debts of over T$20 (£403 million), sources told the news provider.
An anonymous Taipei-based source told the news source that the Tsai family think the deal could prove rewarding.
"The Tsai family sees cable TV as an investment with strong potential. They can choose between Kbro and CNS. And the most sensible choice is Kbro," they said.
The Carlyle Group is a private equity investment firm based in Washington DC, US.
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