Want Want Group, a company best known in China for its popular rice crackers, has agreed to acquire China Network Systems, Taiwan’s leading cable television company, in a deal that could be worth $2.4 billion.

Chao Yu-pei of Want Want, said that the company had signed an agreement to buy private equity group MBK Partners’ 60 per cent stake in CNS, a deal that would make Want Want the cable TV company’s biggest shareholder.

Profit margins in Taiwan’s cable TV market are the highest in Asia, and the sector has been a hotbed of deal activity as foreign investors who flocked to it in 2007 look to recoup their investments. The deal is still subject to regulatory approval.

Other posts by :

1. SES predicts end of ‘big’ GEO satellites
2. Amazon Leo gets approval for 4,504 extra satellites
3. SpaceX gets a portion of India
4. TerreStar wants to build LEO network
5. Musk: “No Starlink phone”
6. Russia accused of eavesdropping on satellites
7. FCC welcomes Musk’s 1m satellite plan
8. Telesat has problems with an LEO
9. Orbital debris a real danger 

Categories: Articles, Business, Cable, M&A