China Mobile to pay USD529 million for FET stake

30 Apr 2009

China’s leading mobile operator by subscribers China Mobile has announced that it will pay USD529 million for a 12% stake in Taiwanese cellco Far EasTone (FET). The companies plan to cooperate closely in a number of areas, including procurement, roaming services, data and value-added services, and network and technology advancement. The deal is the first direct investment in the island by a mainland based company in over 60 years, coming a day after the Chinese Ministry of Commerce lifted a ban on investments in Taiwan.

China, Taiwan, China Mobile, Far EasTone (FET)