August 25, 2014 / 1:30 AM / 3 years ago

Taiwan's Wei family to ask others to invest in cable TV firm -source

TAIPEI, Aug 25 (Reuters) - Taiwan’s Wei family will ask the chairman of Cathay Financial and electronics parts firm Cheng Uei to invest in its planned purchase of the nation’s biggest cable TV operator, a source with direct knowledge of the matter said on Monday.

The Wei family, which controls Hong Kong-listed noodle maker Tingyi Cayman Islands Holding Corp, has agreed to buy China Network Systems (CNS) for about $2.4 billion including debt from private equity firm MBK, a person with direct knowledge of the matter told Reuters on Sunday.

The first source said Apple Inc supplier Hon Hai Precision and Far Eastone Telecommunications had also bid for the unit.

He declined to be identified as details of the deal have yet to be officially announced.

Reporting by Faith Hung; Editing by Edwina Gibbs

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