Far EasTone in wireline share swap

20 Aug 2007

The Taiwanese mobile operator Far EasTone is to take a 24.51% interest in wireline operator New Century Infocomm (NCIC). The deal will be carried out via a share swap with the current owner of the stake, SingTel of Singapore, which will see Far EasTone issue 160 million new shares. The exchange will give SingTel a 3.98% stake in Far EasTone, the Taipei Times reports. Far EasTone’s president, Jan Nilsson, said the company is ‘taking this action to improve efficiency in the enterprise market as well as in the international phone market’.