The protracted acquisition by Want Want China Times Group of the cable TV services operated by China Network Systems is no further forward after the National Communications Commission (NCC) of Taiwan said the group has still not met conditions paced on the deal.
The NCC ruled on July 31, 2012, that the group must fulfill three major conditions as well as 25 complementary clauses before it would be allowed to buy CNS. These included that the group’s chairman Tsai Eng-meng and his family had to dissociate themselves completely from the management of CtiTV, that China Television’s (CTV) digital news channel had to be changed into a non-news channel and that CTV had to have an independent content review board.
NCC spokesperson Yu Hsiao-cheng said that Want Want is required to follow the commission’s ruling in order to become a qualified buyer. MBK Partners, the major shareholder in CNS, in October and November last year filed for withdrawal of its applications to both the Investment Commission of the Ministry of Economic Affairs and the NCC to transfer the company’s shares to the Want Want Group.
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