Vee TIME obtains 72.43% stake in Vmax
Chloe Yu, Taipei; Adam Hwang, DIGITIMES [Friday 3 February 2012]
Vee TIME, a WiMAX operator in the southern half of Taiwan, on February 2 announced the acquisition of a 72.43% stake in Vmax Telecom, a WiMAX operator in the northern half of Taiwan, to pave the way for a merger.
Vee TIME acquired a 38.96% stake from Tecom, a Taiwan-based maker of telecom equipment, and a 33.47% stake from Vibo Telecom, a 3G mobile telecom carrier in Taiwan, at NT$2.70 per share for a total cost of NT$391.16 million (US$13.21 million), the company pointed out.
Vee TIME said it is negotiating the acquisition of the remaining 27.57% stake in Vmax, including 19% held by Intel Capital.