Local telecom operator Asia Pacific Telecom Co (APTC, 亞太電信) said yesterday it had renewed talks with potential partners interested in buying a stake to help the company raise new capital to improve its financial structure and purchase new equipment.
APTC failed to strike a deal with potential investors in a NT$20 billion (US$623 million) share offering in July.
“APTC still needs to raise new funds to improve its financial structure and buy new equipment,” APTC chairwoman Sophia Chiu (邱純枝) said in a statement.
In January, Chiu was appointed acting chairperson of the beleaguered telecom company, representing TECO Electric and Machinery Co (東元電機), one of APTC’s major shareholders.
“About three or four companies have approached us about purchasing a stake,” Chiu said, dismissing speculation that TECO aims to control APTC by blocking new investment.
The company expects to wrap up talks soon, she said.
Despite the ongoing talks, Chiu said APTC still welcomed any party interested in making an offer.
Chiu made the remarks after local media reported that the Shin Kong Group (新光集團) was considering forming a large telecom firm in cooperation with Japan’s second-largest mobile carrier, KDDI Corp, by merging APTC with First International Telecom Corp (大眾電信).
Before that, Shin Kong may increase its stake in APTC and buy a controlling stake in First International Telecom, local papers said.
The group, which owns 1.36 percent of APTC, has not submitted a proposal, Chiu said.
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