Yeangder denies reports of McDonald's buyoutYeangder Group, which runs a host of businesses in Taiwan including the Ambassador Hotel in Taipei, denied Wednesday it was looking to acquire McDonald's Taiwan. According to local reports, the business group was the most likely buyer of McDonald's Taiwan, which reportedly will announce its buyer in DecemberThe Ambassador Hotel denied it has made contact with any McDonald's personnel, according to local media. McDonald's Taiwan reportedly has made an internal announcement that its president would be replaced, a sign that the acquisition deal was entering its final stages, reported Liberty Times. McDonald's Taiwan in June 2015 revealed that the U.S. headquarters decided to close the local subsidiary and have a regional franchise run the Taiwan outlets, according to local media reports. McDonald's reportedly had been asking for NT$30 billion for the franchise, but the final price is expected to come down to NT$20 billion, local media said.

Source: The China Post November 09, 2016 16:14 UTC