Chunghwa revives buyback plans

25 Jun 2004

Taiwan’s largest telco, Chunghwa Telecom, has revealed plans to revive a buy back plan and cancel as much as a tenth of its stock, worth USD1.6 billion, in a bid to lift its earnings per share. The announcement follows the news that the Taiwan government – which owns 65% of Chunghwa – it aims to sell a 14% stake in the operator this year. Chunghwa said it will initiate the buyback after the stake is sold.

Netherlands, KPN