Asia Pacific Telecom shares get boost on buy-out hopes

TAIPEI — Shares of Asia Pacific Telecom Co. (亞太電信) got a boost Thursday morning after Taiwan Star Cellular Corp. (台灣之星) formally announced a bid a day earlier to acquire the company, dealers said. Shares of Asia Pacific Telecom rose 7 percent, the maximum daily increase, to close at NT$17.90 (US$0.59) with 102.95 million shares changing hands. The weighted index on the Taiwan Stock Exchange ended up 0.42 percent at 8,930.90 points.

Taiwan Star sets sights on acquiring Asia Pacific Telecom

TAIPEI — Taiwan Star Cellular Corp. (台灣之星), a telecom arm of conglomerate Ting Hsin International Group (頂新), said it is seeking to acquire Asia Pacific Telecom Co. (亞太電) in a bid to consolidate the resources of the two companies. Cliff Lai, president of Taiwan Star, said his company is sitting on huge funds and has a 4G license, a broad distribution network and plenty of talent for business expansion.