MMG set to acquire Taiwan media firm for $1.2 billion

MUMBAI: Australia’s Macquarie Media Group (MMG) says it has received all necessary regulatory approvals from the Investment Commission for its $1.19 billion acquisition in Taiwan’s third largest cable TV provider Taiwan Broadband Communications (TBC).

The deal will be undertaken by a consortium made up of MMG and one of its shareholders, Macquarie Bank Ltd, say reports.

MMG says the remaining conditions are expected to be satisfied in the “coming days” and the acquisition is expected to be finalised next week.

Reportedly, MMG wants to increase the range of services it provides to its current 90,000 internet and 650,000 cable TV subscribers.