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
Diversifying is the word I was looking for here. That's always the name of the game when you've already cornered one aspect of a market.