TAIPEI, June 16 Taiwan Life Insurance Co Ltd
said on Monday its shareholders have scrapped an
earlier agreement to be purchased by CTBC Financial Holding Co
Ltd, parent of Taiwan's top credit card issuer.
The company made the announcement on the website of Taiwan's
stock exchange, without elaborating and officials at the company
declined to comment. Officials with CTBC could not be reached
The two companies had announced in October that CTBC would
buy 100 percent of Taiwan Life in a deal that would have been
worth about $890 million.
Taiwan regulators halted their review of the merger plan in
April, without giving a reason.
(Reporting by Michael Gold; Editing by Matt Driskill)