HONG KONG-Hongkong Telecom announced it would increase its equity investment in Taiwan Telecommunications Network Services from 21.4 percent to 56 percent.
“Competition will become still tougher on a global scale following the full liberalization of the telecoms markets around the world and in the region, so we are taking a far-sighted approach and proactively developing overseas markets from our Hong Kong base,” said Linus W.L. Cheung, Hongkong Telecom chief executive officer.
Hongkong Telecom acquired its first stake in TTNS in July 1996 to establish a presence in the Taiwan market. On March 1, its Taiwan presence was strengthened with an 85-percent acquisition of the FIC Network Service.
