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Foxconn eyes buyout firm MBK's Taiwan cable TV unit: source

Published on Apr 7, 2014 2:04 PM
 

TAIPEI/HONG KONG (Reuters) - Foxconn Technology Group, Apple Inc's main contract manufacturer, is in talks with Asian private equity firm MBK Partners to buy Taiwanese cable TV company China Network Systems (CNS), a source with knowledge of the matter told Reuters on Monday.

Foxconn could pay about T$64 billion (S$2.7 billion) for MBK's 60 per cent stake in Taiwan's largest cable provider, according to the Economic Daily, which first reported the talks on Monday.

Foxconn, whose flagship unit is Hon Hai Precision Industry Co, is aiming to team up with CNS to compete with Chunghwa Telecom Co, Taiwan's biggest mobile phone and fixed network carrier, the newspaper said without citing sources.

Foxconn has also met a high-ranking official of Taiwan Mobile Co for a potential tie-up, the newspaper reported.

 
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