HONG KONG, July 18 Taiwan's Far EasTone
Telecommunications Co Ltd and Morgan Stanley Private
Equity Asia are seeking a loan of up to T$48 billion ($1.60
billion) to fund their bid for China Network Systems Co Ltd
(CNS), Basis Point reported on Friday citing banking sources
with knowledge of the deal.
The two companies are seeking to buy the stake in the
network television company CNS from South Korean private equity
firm MBK Partners LP, the people said.
Citigroup is financial advisor on the transaction,
Basis Point, a Thomson Reuters publication, said citing the
Far EasTone, CNS, Morgan Stanley and MBK did not immediately
respond to requests for comment.
The deal faces possible competition from Foxconn Technology
Group, Apple Inc's main contract manufacturer. Foxconn
had in April expressed interest in buying the stake in CNS
according to local media reports at the time.
MBK, which bought its CNS stake for $1.5 billion in 2006,
was blocked by Taiwan's regulators from selling the stake in
October 2010 for $2.4 billion to a group led by Want Want China
($1 = 29.9780 Taiwan Dollars)
(Reporting by Carol Zhong of Basis Point, writing by Lawrence
White; Editing by Miral Fahmy)