TBC shareholders look to sell up

4 Jun 2009

The Financial Times is reporting that a 49% stake in Taiwan Broadband Communications (TBC), one of Taiwan’s leading cable operators, has been put up for sale by the company’s shareholders. Australian investment and banking group Macquarie owns 80% of TBC through its subsidiaries, Macquarie Korea Opportunities Fund (MKOF), which has a 60% stake in TBC, and Macquarie International Infrastructure Fund (MIIF), which has a 20% stake. The remaining 20% is owned by London-based Intermediate Capital Group (ICG). MIIF and ICG are reportedly looking to offload their shares while MKOF would be willing to sell up to 9% of the company, allowing a new buyer to acquire 49% of TBC. In June 2008 MKOF bought its 60% stake from Macquarie Media Fund (MMF) in a deal worth AUD392 million (USD273 million).

Taiwan, Taiwan Broadband Communications (TBC)