By Kao Shih-ching / Staff reporterChina Development Financial Holding Corp (CDFHC, 中華開發金控) plans to delay its acquisition of China Life Insurance Co (中國人壽), as the insurer’s shareholders might be hesitant to sell their holdings at a lower price, it said yesterday. China Life’s share price tumbled 26 percent to NT$25.9 yesterday, compared with NT$35 in September 2017, when CDFHC acquired 25 percent of the outstanding shares of the company, Taiwan Stock Exchange data showed. “Our acquisition cost could be reduced if we are to acquire China Life now, thanks to the company’s lower share price,” CDFHC spokesman Richard Chang (張立筌) told the Taipei Times by telephone. Weak confidence in the life insurance business in recent years attributed to the decline, he said. China Life was the engine that fueled CDFHC’s profit growth last year, Chang said.

Source: Taipei Times January 17, 2020 15:56 UTC