Telenor Seeks 40% of Taiwan's KG Telecom

Telenor is seeking to acquire a 40% stake in LG Telecom of Taiwan.

Toni Clarke

November 01, 2000

Telenor, Norway's dominant telecommunications company, said it is one of several telcos interested in buying a 40% stake in privately owned KG Telecom of Taiwan. KG Telecom, owned by the Koos Group, is one of Taiwan's leading wireless operators. Other potential bidders include NTT DoCoMo, Deutsche Telekom and Telstra of Australia.

Under Taiwanese law, foreign investors are allowed to own 40% of a Taiwanese company. In August the Koos Group bought back 20% of a stake held by Bell Canada for $485 million. Now the company is anxious to sell the full 40% stake to the highest bidder.

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