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Chunghwa Telecom to acquire 5.74% stake in China Airlines

Jan. 18, 2012 (China Knowledge) - Chunghwa Telecom Co Ltd, the largest telecom and Internet services provider in Taiwan, has announced plans to subscribe NT$3.5 billion or about US$117 million worth of new shares issued by Taiwan-listed China Airlines Ltd to have a 5.74% stake in the issuer.

According to the plans, Chunghwa Telecom will subscribe 299 million new shares for NT$11.73 apiece, sources reported.

The telecom operator said the cooperation with China Airlines will help expand its cloud-computing services to tourism and related business.

Taiwan-listed Chunghwa Telecom, which provides fixed-line, mobile and Internet and data services to residential and business customers on the island, plans to spend NT$100 billion or US$3.34 billion on the development of high-speed fiber optic network over the next three years.

The Taiwanese telecom service provider said it will start half-year trial operations on 1Gbps-broadband network in five cities, consisting of Taipei, New Taipei, Taichung, Tainan and Kaohsiung, in Taiwan.

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