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Foxconn to buy a stake in Taiwanese telecom operator
May 27, 2014 / 12:30 AM / in 3 years

Foxconn to buy a stake in Taiwanese telecom operator

TAIPEI, May 27 (Reuters) - Taiwanese mobile telecoms operator Asia Pacific Telecom said on Tuesday it has reached an agreement to sell a stake to Apple Inc supplier Foxconn Technology Group, boding well for Foxconn to compete in Taiwan’s developing 4G telecom market.

Foxconn would pay T$20 a share for 582.9 million shares for T$11.6 billion ($390 million) via a private placement, Asia Pacific said in a statement.

The small telecom operator said earlier this month that it will decide on a merger partner between Foxconn and Chinese noodles maker Ting Hsin International. (Reporting by Faith Hung; Editing by Michael Perry)

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