State to auction 3% of Chunghwa

4 Aug 2005

The ongoing saga of the privatisation of Taiwan’s former monopoly Chunghwa Telecom rumbles on with an announcement that the government is to auction 289.43 million shares, or 3% of the company, next Tuesday. The cabinet has authorised the sale despite a parliament resolution forbidding the auction, sparking a backlash from Chunghwa Telecom’s workers union.

Taiwan, Chunghwa Telecom