Ting Hsin approached for Taiwan Star majority stake

27 Jan 2015

Ting Hsin International Group, majority shareholder in Taiwan Star Cellular, has confirmed it has received approaches for its stake in the cellco amid suggestions that it could sell the unit as it looks to exit non-core businesses. According to the Taipei Times, comments made by Ting Hsin follow on from reports earlier this week which said that the conglomerate could sell its 52% holding in Taiwan Star as early as the end of this quarter. Speaking on the development, Ting Hsin spokesman Ted Chia was cited as saying: ‘Indeed, there is more than one company that has expressed an interest [in buying the group’s share of Taiwan Star], but the group has not made any decision yet.’ The executive, however, declined to name the companies that had made an approach, while it was also claimed that Taiwan Star’s other major shareholders – which include Cathay Financial Holding, CTBC Financial Holding Co and Cheng Uei Precision Industry Co – intend to increase their holdings to safeguard the cellco’s position.

While two of Taiwan’s other telecoms operators had been named as possible bidders for the stake, those being Chunghwa Telecom and Far EasTone Telecommunications, the latter has reportedly stated that it is not interested in the stake, while Chunghwa spokesman Ho Hsu-hui said of the matter: ‘The company cannot comment on market speculation … Every investment will have to go through the company’s internal assessment.’

Taiwan, Chunghwa Telecom, Far EasTone (FET) (incl. NCIC), Taiwan Star Cellular (T STAR)