An additional 20 percent can be held indirectly -- by a holding company for example. New laws may soon be enacted to increase direct holdings to 40 percent, making it legal for foreigners to take a combined indirect and direct stake of up to 60 percent.
Last year, Far EasTone's revenues reached NT$32.18 billion (US$946 million) and after-tax net income was NT$4.039 billion (US$119 million). The company boasts over 3.7 million wireless customers and over 360,000 consumers log onto its Internet service, FETnet.
In the first quarter of this year, Far EasTone said in a statement that its revenues came in at NT$10.44 billion, with net income growing 151 percent year-on-year. By comparison, Taiwan Cellular, recorded first-quarter revenue of NT$12.022 billion with end-March subscribers at 5.5 million.
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