Ting Hsin, Foxconn sumbit bids to merge with telcom company -source

TAIPEI Wed May 7, 2014 1:44am EDT

TAIPEI May 7 (Reuters) - Ting Hsin International Group, parent of Chinese noodle maker Tingyi Holding, and Foxconn Technology Group have submitted rival bids to merge with Asia Pacific Telecom, a source with direct knowledge of the matter said on Wednesday.

"Ting Hsin eagerly wants to merge with Asia Pacific," the source told Reuters. "Such a merger would create bigger synergies than one between Foxconn and Asia Pacific."

The source declined to be identified due to the sensitive nature of the matter.

Foxconn's flagship unit and iPhone maker, Hon Hai Precision , is in talks to buy 22 percent of mobile network provider Asia Pacific, local media have reported, citing unidentified sources.

Officials of Hon Hai and Asia Pacific Telecom were not immediately available for comment. (Reporting by Faith Hung; Editing by Richard Pullin)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.