Sony unit bidding for Taiwan cable channel, reports say
A unit of Sony is bidding to buy Taiwan cable operator Gala Television Corporation for about 6 billion Taiwan dollars (187 million US), reports said.
Internet access provider So-net Entertainment Corp, a Sony affiliate, is vying with up to four other bidders for Gala in a deal expected to be finalised by the end of the month, Dow Jones Newswires said, citing an unnamed source.
The Taipei-based Commercial Times said Sony is offering 6 billion Taiwan dollars against the rival bidders, which include a Swedish private fund and other international investors.
The paper said Gala, which operates four entertainment cable channels, was acquired by private equity fund MBK Partners in 2008 for about 4 billion Taiwan dollars.
Sony spokesman Atsuo Omagari declined to comment on the report.
Copyright 2010 AFP Global Edition
