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Government announces bidders for TTV shares

"We went through their applications carefully and made sure that no foreign shareholders are involved in these five companies."

Chen Mei-ling, Cabinet deputy secretary-general

The Cabinet yesterday accepted applications from five companies wishing to purchase the government's 25.77 percent share holding of Taiwan Television Enterprise Co (TTV).

"The winner of the final bid will be decided on April 11," Cabinet Deputy Secretary-General Chen Mei-ling (陳美伶) said.

Chen made her remarks at a press conference held yesterday morning. She said that all five companies had provided proof that they had at least NT$1 billion (US$30 million) in assets, which was a prerequisite to qualify for the auction. In addition, the companies must each make a downpayment of NT$70 million.

The five companies applying for the stake were Hung Pang Construction Co (鴻邦建設), Want Want Group (旺旺集團), ERA Communications Co (年代網際), Dafeng TV Ltd (大豐有線電視) and Unique Group (非凡國際科技).

"We went through their applications carefully and made sure no foreign shareholders are involved in these five companies and that their applications comply with the regulations of the Broadcasting and Television Law [廣播電視法]," Chen said.

Chen said that the eventual winner would also have to pass a final authorization by the National Communications Commission in order to officially become a shareholder of TTV.

"We have not yet gone that far," Chen added.

Dafeng and Want Want were queried regarding minor foreign shareholders on their registers, but when questioned on this Chen said there was no problem with any of the five companies' qualifications for the bid.

Hung Pang's qualification was also questioned at the conference as former Cabinet spokesman Cheng Wen-tsang (鄭文燦) had allegedly offered the company a majority shareholding in TTV while he was hosting a lunch on Jan. 17 for Japan's Fuji Television Network and the Liberty Times Group, Hung Pang's and the Taipei Times' parent company. Cheng had allegedly "suggested" that Fuji sell its shareholding to the Liberty Times Group.
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