China Network Systems CNS has confirmed that MBK Partners is the winning bidder in an auction to buy 60% of the company. The price is not known but media reports speculate that it is around NT$50 billion $1.5 billion.
MBK Partners is a Korea-based private equity fund founded by Michael Kim, the high-profile figure who was previously head of Carlyle in Asia.
CNS is 80% owned by Taiwan's Koo family with the balance held by News Corp Star Group. It is TaiwanÆs second largest cable company measured in terms of revenues and subscribers. Carlyle had earlier invested in CNSÆs competitor Eastern...
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