Taiwan Mobile sells 6 percent holding to a foreign PE fund for $433 million.(TAIWAN)

Asia Pacific Telecom, February, 2008

Taiwan Mobile, the third-largest telecom service provider in Taiwan, has sold a 6 percent holding to an overseas private equity fund for nearly $433 million, according to a Reuters report. Although the details of the deal were not disclosed, it is reported that the buyers could include the likes of MBK Partners, the Carlyle Group, or the Blackstone Group.

This news comes just a day after Taiwan Mobile has announced that it would sell the stake through bulk trading for raising money for its operations.

Following the transaction, the overseas stake in the mobile operator would reach 48.47 percent, which is very close to the permissible limit of 49 percent. This deal is likely to be closed before 31 Jan 2008.