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Buyout plan for Taiwan broadband operator
09 July 2010
China Network Systems, a Taiwanese cable and broadband operator, has been put up for sale by buyout firm MBK
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CNS
China Network Systems
Taiwan
MBK
Carlyle
Pan-Asian buyout firm, MBK Partners, has put China Network Systems up for sale by auction, according to reports. The Taiwanese cable and broadband company is drawing bidders including private equity firms.
Morgan Stanley is managing the sale process for Taipei-based CNS. MBK is seeking up to $2.5 billion for the company. Permira Holdings and Kohlberg Kravis Roberts have shown interest in the acquisition, according to the Wall Street Journal.
Seoul-based MBK, which also has offices in Hong Kong, Shanghai and Tokyo, bought a 60% stake in CNS in July 2007.
In September 2009, Carlyle Group signed a deal for a $1 billion equity swap with Taiwan Mobile Company, through which it bought a stake in the cable television operator, Kbro Company. GTB