Taiwan Mobile secures TFN shares

16 Apr 2007

Taiwan Mobile has secured 74.09% of the shares of fixed line sister company Taiwan Fixed Network (TFN) through a tender which ended on Friday. The cellco bought 4.78 billion shares via its wholly-owned subsidiary Taihsing International Telecommunications at a total cost of TWD39.67 billion (USD1.2 billion). Taiwan Mobile now owns just over 84% of TFN, which is one of three companies licensed to compete with the incumbent Chunghwa Telecom in the local telephony market.