Printed from http://www.electronista.com

Foxconn plans $390M stake acquisition of Taiwanese 4G phone network

updated 08:03 am EDT, Tue May 27, 2014

Merger between Asia Pacific Telecom, Foxconn subsidiary expected in June

Foxconn is looking to acquire a large stake in Taiwan-based Asia Pacific Telecom, in order to have a greater influence on the country's 4G cellular phone services. The deal, said to be worth T$11.6 billion ($390 million), will be a precursor to a merger, where the telecoms company would join up with a Foxconn subsidiary, which could complete as early as this June.

Reuters reports Foxconn is offering T$20 ($0.66) per share for 582.9 million shares in Asia Pacific, followed by a full merger via a share swap by June 20th, pending an agreement of terms. Asia Pacific was reported to have claimed earlier this month it was considering a merger with either Foxconn or Ting Hsin International, a manufacturer of Chinese noodles, with Foxconn evidently being the better fit for the business.

Foxconn already owns a license for 4G spectrum in Taiwan, which it would have deployed under subsidiary Ambit Microsystems. Once the merger is completed, Ambit will cease to exist and will be replaced by Asia Pacific Telecom, which in turn would inherit the licenses. The 4G-based network was expected to start operations later this year, though this may be delayed by the merger.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Seagate Wireless

It seems like no matter how much internal storage is included today's mobile devices, we, as users, will always find a way to fill the ...

Lenovo Yoga Tablet 2 (Android, 10.1-inch)

Lenovo is building a bigger name for itself year after year, including its devices expanding beyond desktop computers. The company's l ...

Brother HL-L8250CDN Color Laser Printer

When it comes to selecting a printer, the process is not exactly something most people put a lot of thought into. Printers are often t ...

Advertisement

toggle

Most Commented

 
toggle

Popular News