Taiwan group sets $2 bln China Network buy - sources

Last Updated: Mon, Oct 25, 2010 17:30 hrs

A Taiwan-based consortium led by Want Want Holdings has agreed to buy Taiwan cable operator China Network Systems Ltd, owned by private equity firm MBK Partners, for more than $2 billion, a source familiar with the situation said on Monday.

North Asia-based private equity fund MBK Partners is selling China Network after buying it in 2007 for $1.5 billion, and the auction drew interest from private equity and strategic buyers including Australian investment bank Macquarie Group Ltd.

(Reporting by Michael Flaherty in Hong Kong; writing by Megan Davies in New York; editing by Gerald E. McCormick)

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