Taiwan Mobile is planning to acquire up to 100 per cent stake in Taiwan Fixed Network (TFN) for up to $1.64 billion.

Taiwan Mobile is planning to acquire up to 100 per cent stake in Taiwan Fixed Network (TFN) for up to $1.64 billion. The company will reportedly launch a tender offer to TFN’s shareholders in order to purchase their stock at T$8.3 per share (a 10.7 per cent premium). It plans to acquire at least an additional 41 per cent of TFN in order to get a majority shareholding in the company. The Tsai family, who own Taiwan Mobile, plan to complete restructuring its non-financial businesses through an acquisition of TFN in April 2007. According to them, the move will help untangle a web of cross-shareholdings. Taiwan Mobile owns 10 per cent stake in TFN, which in turn owns 30 per cent of Taiwan Mobile.