CTBC delays sale of office
CTBC Financial Holding Co (中信金控) yesterday said it will extend the deadline for selling its headquarters building in Taipei by three months to give prospective buyers more time to evaluate the property’s value. Interested buyers may now tender bids until Feb. 13, from the original deadline on Nov. 5, CTBC said in a stock exchange filing. The bank-focused conglomerate aims to sell 95 percent of its office building in the center of the city’s prime Xinyi District (信義) and move its headquarters to Nangang District (南港) next year. The company reiterated the possibility of calling off the auction if necessary, without having to offer any compensation to bidders.
FTC fines firms for mergers
The Fair Trade Commission (FTC) yesterday fined the United Daily News Group (聯合報公司) and Chunghwa Telecom Co (中華電信) NT$100,000 and NT$1.2 million (US$10,200 and US$40,800) respectively, for not filing applications for merger deals when they hold a dominant role in their sectors. The United Daily News took part in a joint venture with Chunghwa Telecom to acquire Smartfun Digital Co Ltd (智趣王) in 2011, with the media group taking a 35 percent stake and the telecom awpl65 percent. Chunghwa also merged a real-estate company in 2010 and purchased a 51 percent stake in Sochamp Tech Co Ltd (中華碩銓) in 2011.