TAIPEI, Dec 2 (Reuters) - Ting Hsin International Group, the parent of China’s largest instant noodles maker Tingyi Holding Corp, has done due diligence on private equity fund MBK’s Taiwan cable TV unit, the Economic Daily reported on Monday.
Ting Hsin has started to check on financial books of MBK’s unit CNS, estimated worth between T$65 billion ($2.2 billion) and T$72 billion, the Chinese-language paper said, citing unidentified sources at Ting Hsin.
MBK is looking for a buyer for the asset after a previous bidder for CNS had failed to meet requirements set by Taiwan’s broadcasting regulators, the paper said.
Officials of Ting Hsin, founded by Taiwan’s Wei family, were not immediately available for comment.
Ting Hsin recently won licences with other Taiwan groups, including Apple supplier Foxconn Technology Group, to operate a 4G network in Taiwan. ($1 = 29.5940 Taiwan dollars) (Reporting by Faith Hung; Editing by Gopakumar Warrier)