Politics and red tape have scuppered the latest effort by Korean private equity fund MBK Partners to offload its majority stake in Taiwanese cable television operator China Network Systems.
Taipei-listed Far Eastone Telecommunications revealed in a statement on Wednesday that its long-stalled plan to acquire MBK's 60% stake in CNS in partnership with Morgan Stanley's private equity arm was now off the table.
The decision to scrap a deal that was first announced in July 2015 came after a new government took office last year, and asked regulators to look again at whether the purchase was in line with regulations forbidding state entities from...
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