The National Communications Commission yesterday approved a merger between Vibo Telecom and Taiwan Star Telecom Corp.
Commission spokesperson Yu Hsiao-cheng (虞孝成) said that Vibo provides third-generation (3G) telecom services, whereas Taiwan Star became a fourth-generation (4G) telecom operator this year.
“The direct funding from foreign investors would account for less than 1 percent of the total shares after the merger, whereas indirect investment would account for 47.119 percent, so the company has met the requirements stated in the Telecommunications Act (電信法),” Yu said.
Article 12 of the act says that a chairperson of a telecom company board should be a Taiwanese national.
The total direct shares held by foreigners may not exceed 49 percent, and the sum of direct and indirect shares held by foreigners may not exceed 60 percent.
Yu said that Taiwan Star would cease to exist after the merger, and Vibo, as the surviving company, is obligated to take over the 4G services offered by Taiwan Star.
However, the company will be renamed Taiwan Star after the merger is complete, Yu said.
“Vibo has a lot more subscribers than Taiwan Star, because the latter only began providing services this year. The arrangement is to ensure that a majority of existing subscribers will not be affected by the merger,” Yu said.
The commission also approved a new 3G license for Asia Pacific Telecom, as the company has raised its capital and changed its legal representative.
The new license states that the company has capital of NT$38.8 billion (US$1.3 billion), and direct and indirect shares in the company are 5.31 percent and 12.76 percent respectively.
Though Asia Pacific Telecom and Ambit, another telecommunications firm, announced a merger earlier this year, the commission said it has yet to see their application, though they have frequency blocks to offer 4G services.
Both firms have yet to secure 4G service licenses, the commission said.
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