Moody's warns may strip France, UK, Austria's Aaa rating

NEW YORK - Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria, while it downgraded the ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta.

» More Business News

German solar boom strengthens critics of subsidies

FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.

» More Green Business News

Zynga buys British-based games company

NEW YORK - Zynga has acquired Wonderland Software, a nine-person video game studio based in Britain that makes mobile games for Apple devices, in a bid to offer more games for users to play on smartphones and tablets.

» More Small Business News

Carlyle sells Taiwan TV unit for $1.9 billion

Related Topics

Quotes

   

TAIPEI | Mon Jul 26, 2010 6:42am BST

TAIPEI (Reuters) - Carlyle Group CYL.UL has agreed to sell Kbro, Taiwan's largest cable TV operator, to the controlling shareholder of Taiwan Mobile (3045.TW) in a deal worth about T$60 billion ($1.9 billion), sources with direct knowledge of the situation said on Monday.

The Tsai family set up a private firm to buy the unit, and would pay about T$40 billion and assume Kbro's debt of more than T$20 billion, the sources said.

The Tsai family is the controlling shareholder of Fubon and Taiwan Mobile.

Taiwan Mobile had agreed to buy Kbro in September 2009 but its deadline lapsed last month, hit by a Taiwan law that banned state ownership of media bodies.

Taiwan Mobile had said that the Tsai family would buy Kbro in its own personal capacity.

($1=T$32.1)

(Reporting by Faith Hung; Editing by Jacqueline Wong)
Deals
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.