Taiwan's Far EasTone to invest $7Mln in Mainland IT Firm

Far EasTone Telecommunications Co.,plans to buy a 55 percent stake in a Beijing-based information technology firm for 7 million U.S. dollars, marking the first investment in Chinese mainland.

Far EasTone Telecommunications Co., (4904.TW), the third-largest mobile phone
operator in Taiwan, said Tuesday it plans to buy a 55 percent stake in a
Beijing-based information technology firm for 7 million U.S. dollars, marking
the first investment in Chinese mainland.

Far EasTone plans to buy a controlling stake in Yuan Dong New Century
Technology (Beijing) Ltd., which develops computer operating systems and
provides consultancy services, the company said in statement.

The capital held by Yuan Dong New Century, which stood at 150,000 U.S.
dollars currently, is expected to reach 1.85 million U.S. dollars after the
investment, marking Far EasTone the largest share holder of the company.

Spokesman Gao Zhihua for Far EasTone said Tuesday that the move is its first
attempt to tap into telecommunication industry in the Chinese mainland.

Far EasTone is Taiwan’s third-largest mobile phone operator by revenue after
Chunghwa Telecom Co., and Taiwan Mobile Co., with total operating revenue of
12.92 billion yuan in 2009.