Hon Hai in talks to buy major stake in Asia Pacific Telecom: Local media

TAIPEI (REUTERS) - Hon Hai Precision Industry Co Ltd , a major maker of products for Apple Inc, is in talks to buy 22 per cent of Taiwanese telecommunications firm Asia Pacific Telecom Co Ltd, local media reported on Monday, citing sources.

The deal will be worth NT$11 billion to NT$14 billion (S$457 million to S$581 million), Taiwan's Commercial Times said, and will represent all of Asia Pacific Telecom's stock currently held by government-owned enterprises.

A spokesman for Hon Hai had no comment. Asia Pacific Telecom could not be immediately reached.