Taiwan Mobile in negotiations for Taiwan Star dealBy Lisa Wang / Staff reporterTaiwan Mobile Co (台灣大哥大) said it is negotiating a lower acquisition bid for Taiwan Star Telecom Corp (台灣之星), as the regulator’s ruling last month curtailed Taiwan Mobile’s access to the 5G spectrum owned by Taiwan Star. Taiwan Mobile seeks to slash about 72 percent of its offering to absorb financially strapped Taiwan Star through a share swap. Taiwan Mobile’s board of directors yesterday approved an exchange of one Taiwan Star share per 0.0326 Taiwan Mobile shares, compared with 0.04508 shares agreed in December 2021, according to a company filing with the Taiwan Stock Exchange last night. Taiwan Mobile expects its revenue to grow this year, without counting the contribution from Taiwan Star, Lin said. Taiwan Mobile said it plans to boost capital spending this year to NT$12.8 billion, from NT$9.63 billion last year.
Source: Taipei Times February 25, 2023 06:59 UTC