China Mobile Buys 12 Percent Of FarEasTone For $533 Million

imageIn the first direct Chinese investment in Taiwan for 60 years China Mobile will buy a 12 percent stake in Taiwan carrier FarEasTone for TWD$17.77 billion (US$533 million), paying TWD$40 per share for 444,341,020 new shares — a 15 percent premium on FarEasTone’s closing price on Tuesday reports TelecomAsia. The deal will need the approval of both governments. China Mobile said it hoped to offer more customized services to customers traveling across the strait as well as business enterprises operating on the mainland and in Taiwan.

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