State to lower Chunghwa stake

30 May 2008

Taiwan’s government plans to lower its stake in Chunghwa Telecom from 35.65% to around 30% to help fund a spending programme, Dow Jones reports. Shih Su-mei, head of the Directorate General of Budget, Accounting and Statistics, told reporters yesterday that the state aims to raise TWD52.8 billion (USD1.7 billion) from the share disposal to contribute to a proposed TWD116 billion budget aimed at supporting the economy at a time of rising prices. The government has yet to set a timetable for the share disposal, said Cabinet spokeswoman Vanessa Yea-ping Shih. The authorities’ interest in the incumbent fixed line provider and mobile network operator is held by the Ministry of Transportation and Communications.

Taiwan, Chunghwa Telecom