Taiwan Mobile to acquire kbro

16 Sep 2009

According to a report by news agency Reuters, US-based Carlyle Group has agreed a cash and share swap deal with Taiwan Mobile to divest its 60% stake in Taiwanese cable operator, kbro (formerly Eastern Multimedia Co). The deal, reportedly worth between TWD55 billion and TWD60 billion (USD1.7 billion-USD1.8 billion), will also see the private equity group take on a 15.5% stake in Taiwan Mobile, the country’s second largest mobile operator in terms of subscribers. As reported by CommsUpdate in July 2009, Carlyle had been considering purchasing a stake in Taiwan Mobile, which also owns an 84% share of Taiwan Fixed Network, since the early summer. At the end of 2008 kbro had over 1.15 million basic TV subscribers, claiming almost a quarter of the country’s cable TV market. Alongside its video services, it also offers high speed cable internet access.