China Mobile has terminated its proposed acquisition of a 12% stake in Taiwan’s Far EasTone Telecommunications that was announced almost four years ago, or rather it has allowed the agreement to lapse after failing to obtain regulatory approval, the Chinese telecom operator said in a statement yesterday.
The two firms broke new ground with their agreement in April 2009 as China Mobile would have been the first state-owned Chinese company to make a direct investment in a Taiwan firm in more than 60 years and it was heralded as an important step forward for the cross-strait relations between the two countries.
Those relations had started to...
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