Chunghwa sale preparations trundling along

15 Apr 2005

Taiwan’s state-controlled telecoms service provider Chunghwa Telecom could invite investment banks to tender for a role in the telco’s forthcoming stake as early as next week, according to the Financial Times. The government has long been planning to reduce its shareholding in Chunghwa from 65% to below 50%, and now hopes to have the sale completed by the end of June, raising as much as USD3.4 billion in the process. The state has proposed selling a 17% stake in Chunghwa and is currently inviting requests from politicians, unions and financial institutions to suggest any changes to its plan before it selects a bank to oversee the sale.

Taiwan, Chunghwa Telecom