Far EasTone says it plans to merge with Asia Pacific

Far EasTone Telecommunications Co (遠傳電信) yesterday said it is to merge with Asia Pacific Telecom Co (亞太電信) in a share swap worth about NT$24.7 billion (US$881.48 million), which would be the latest consolidation in Taiwan’s telecom industry.
Based on the statement, each share of Asia Pacific Telecom would be swapped for 0.093 Far EasTone shares.
The deal is expected to be completed on Sept. 30.
The announcement follows a plan by Taiwan Mobile Co (台灣大哥大) to acquire smaller peer Taiwan Star Telecom Corp (台灣之星) for NT$28.2 billion.
Originally, Far EasTone had planned to increase its stake in Asia Pacific to 23.8 percent this year

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