Standard and Poor’s Ratings Services (S&P) said it would keep its outlook on Far EasTone Telecommunications Co (遠傳電信) unchanged as the newly announced tie-up with China’s leading telecoms operator, China Mobile Ltd (中國移動), may not bring immediate help to its credit profile.
Far EasTone, the nation’s third-largest telecoms carrier, announced last Thursday that China Mobile had sought to purchase a 12 percent stake in the company for NT$17.77 billion (US$536 million) via private placement as part of extensive cooperation plans, including joint procurement, roaming services, data and value-added services, and network and technology advancement.
“We expect the alliance will not materially change Far EasTone’s credit profile in the short term,” S&P said in the statement.
Far EasTone’s stable domestic revenue, underpinned by its strong position in Taiwan’s wireless telecommunications sector, will continue to support its credit quality, it said. S&P rated Far EasTone as “A minus/stable.”
The plan enables Far EasTone to provide a testing platform for Taiwan’s software providers and manufacturers interested in TDSCDMA technology developed by Chinese companies.
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