Cracker maker buys China Network Systems

Want Want Group, a company best known in China for its popular rice crackers, has agreed to acquire China Network Systems, Taiwan’s leading cable television company, in a deal that could be worth $2.4 billion.

Chao Yu-pei of Want Want, said that the company had signed an agreement to buy private equity group MBK Partners’ 60 per cent stake in CNS, a deal that would make Want Want the cable TV company’s biggest shareholder.

Profit margins in Taiwan’s cable TV market are the highest in Asia, and the sector has been a hotbed of deal activity as foreign investors who flocked to it in 2007 look to recoup their investments. The deal is still subject to regulatory approval.

You must be logged in to post a comment Login