Foxconn plans to invest in Asia Pacific Telecom

Foxconn plans to invest in Asia Pacific Telecom

May 28th, according to foreign media reports, Apple Inc. Foxconn Technology Group (Foxconn Technology Group) (hereinafter referred to as "Foxconn") will take a stake in Taiwan's mobile telecom operator Asia Pacific Telecom, it intends to spend 11.6 billion yuan New Taiwan dollar (approximately 390 million U.S. dollars) purchases shares of the latter to increase its influence in the booming 4G telecommunications market in Taiwan.

Foxconn and Asia-Pacific Telecom submitted relevant documents to the stock exchange on Tuesday, announcing that Foxconn will purchase 582.9 million shares of Asia Pacific Telecom at NT$20 per share.

It is expected that Asia-Pacific Telecom and a Foxconn unit will implement the merger in the form of a share exchange, and both parties may finalize all details by June 20.

Foxconn is the world's largest consumer electronics foundry, and it is expanding into new market segments such as 4G, software and cloud computing.

Foxconn has previously won a Taiwan 4G spectrum operating license and is expected to start providing services later this year.

Arthur Liao, an analyst at Fubon Securities, said: "This transaction is definitely beneficial to Foxconn, although it may not be able to profit from this field until after 7 years, but this transaction will help it enter this new market segment."

Earlier this month, Asia-Pacific Telecom had stated that it would decide in the near future whether it would be Foxconn’s top international merger with noodle manufacturers.

Foxconn will implement the contract through its subsidiary, Guoyi Electronics. Guosheng Electronics will be responsible for the future 4G deployment of Foxconn. After the merger, Guosheng Electronics will cease to exist and the new company will continue to operate under the name of Asia Pacific Telecom.

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