Taiwan to privatise Chunghwa by June

10 Mar 2005

The Taiwanese government has ordered Chunghwa Telecom’s main shareholder, the Ministry of Transportation and Communication (MOTC), to choose advisors for the sale of a 17% stake in the telco to foreign investors. It says it hopes to complete the transaction by June this year. The share sale (15% held by the MOTC, 2% owned directly by state funds) would take the government’s holding in Chunghwa to below 50%, completing the long-awaited privatisation of Taiwan’s dominant operator.