China Mobile to buy stake in Taiwan's

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China Mobile has agreed to buy a 12 percent stake in Taiwan operator Far EasTone. The Chinese operator will buy 444.3 million new shares in FET for TWD 40 per share or a total TWD 17.77 billion. Assuming the deal gets regulatory approval, the two expect to cooperate closely on procurement, roaming services, data and value-added services, and network and technology advancement. China Mobile said the acquistion will help the company provide better services to customers travelling across the strait and business customers operating in both mainland China and Taiwan. China Mobile should also benefit from FET's expertise on the 3G market, which is already advanced in Taiwan but just starting in China.

Source: http://www.telecompaper.com/news/article.aspx?cid=669649