Foxconn Buys Stake in 4G Mobile Operator

iPhone maker Foxconn is paying $390M for a stake in Asia Pacific Telecom.

Dan Jones, Mobile Editor

May 27, 2014

1 Min Read
Foxconn Buys Stake in 4G Mobile Operator

Taiwan's Foxconn -- the manufacturer of Apple's iPhone -- is acquiring a US$390 million stake in domestic mobile operator Asia Pacific Telecom, according to local news reports.

Foxconn Electronics Inc. , which trades on the Taiwan stock market under the name Hon Hai Precision Industry Co Ltd, will pay NT$20 a share for 582.9 million shares in Asia Pacific Telecom Group . The Star Online reports that the deal values a 15 percent stake in the operator at NT$11.6 billion (US$390 million).

Foxconn is expected to try for a full merger with the operator through a future share swap.

The deal gives Foxconn a stake in the emerging Taiwanese 4G mobile market: Asia Pacific Telecom is Taiwan's fourth largest mobile operator, and has about 2.1 million customers. (See APAC Fuels 4G Action.)

— Dan Jones, Mobile Editor, Light Reading

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About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

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