MBK's Taiwan TV deal flickers for third time

MBK Partners sees its sale of a 60% stake in CNS fall through again, underscoring the regulatory difficulties for private equity firms attempting to exit Taiwan.

Politics and red tape have scuppered the latest effort by Korean private equity fund MBK Partners to offload its majority stake in Taiwanese cable television operator China Network Systems.

Taipei-listed Far Eastone Telecommunications revealed in a statement on Wednesday that its long-stalled plan to acquire MBK's 60% stake in CNS in partnership with Morgan Stanley's private equity arm was now off the table.

The decision to scrap a deal that was first announced in July 2015 came after a new government took office last year, and asked regulators to look again at whether the purchase was in line with regulations forbidding state entities from...

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