In a deal that has been in the works for almost 12 months, the Koos family finally decided their strategy of going it alone in the telecom sector was no longer viable. With Far Eastone's acquisition of KG Telecom - which was announced yesterday - the Koos family will retain around 10% in the new enlarged entity, but will lose control.
The deal will see the controlling Far Eastern Group of Far EasTone hold 40% of the new entity, NTT Docomo 5%, and ATT 16%. The remainder will be held by public shareholders.
The new entity will have 7.7 million subscribers, putting it behind Chunghwa Telecom but on a...
