Fifth time lucky for Chunghwa Telecom?

16 Dec 2002

Taiwan’s biggest insurance group, Cathay Life, is considering a bid for a stake in Chunghwa Telecom, as the government tries to sell 13.5% of the country’s biggest telco for the fifth time. Any bidder must buy at least half of the USD 1.83 billion of shares on sale tomorrow as the government attempts to lower record national debt. No bids were entered in the last two auctions but Cathay could be lured by Chunghwa’s annual dividend which is rumoured to reach 9.2% next year.