Taiwan Mobile completes TTN stake purchase

16 Aug 2007

Taiwan Mobile Co Ltd has completed the purchase of a 45.88% stake in Taiwan Telecommunication Network Services (TTN), via its wholly-owned unit Taiwan Digital Communications Corp, for TWD690 million (USD21 million). Taiwan’s third largest cellco bought 49.88 million TTN shares from Hong Kong-based telco PCCW and others at TWD13.84 per share, the firm reported yesterday in a stock exchange filing. TTN is the third largest ISP in Taiwan, and specialises in value-added network services catering to business users, with around a third of the VPN customer market. Taiwan Mobile said the move was aimed at developing a converged digital services portfolio.